State of Alaska Department of Revenue Sells 3,875 Shares of Ingersoll Rand Inc. (NYSE:IR)

State of Alaska Department of Revenue lowered its holdings in Ingersoll Rand Inc. (NYSE:IR) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,229 shares of the industrial products company’s stock after selling 3,875 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ingersoll Rand were worth $5,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IR. Massmutual Trust Co. FSB ADV raised its stake in Ingersoll Rand by 17.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock valued at $88,000 after buying an additional 173 shares during the last quarter. Pinnacle Associates Ltd. increased its position in Ingersoll Rand by 4.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock valued at $335,000 after acquiring an additional 193 shares during the last quarter. Parsons Capital Management Inc. RI lifted its holdings in Ingersoll Rand by 3.2% in the fourth quarter. Parsons Capital Management Inc. RI now owns 6,399 shares of the industrial products company’s stock valued at $495,000 after acquiring an additional 200 shares during the period. Parallel Advisors LLC boosted its position in Ingersoll Rand by 8.6% in the fourth quarter. Parallel Advisors LLC now owns 2,552 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 203 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Ingersoll Rand by 6.3% during the 4th quarter. Fulton Bank N.A. now owns 3,944 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 235 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IR. BNP Paribas initiated coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price for the company. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective for the company. Robert W. Baird raised their target price on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Barclays cut their price target on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Wells Fargo & Company decreased their price objective on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $91.05 on Friday. The firm’s fifty day moving average is $91.99 and its two-hundred day moving average is $87.93. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $96.67. The company has a market cap of $36.73 billion, a P/E ratio of 45.30, a P/E/G ratio of 2.64 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.19 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.