Mackenzie Financial Corp Sells 1,917 Shares of Ingersoll Rand Inc. (NYSE:IR)

Mackenzie Financial Corp cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 267,276 shares of the industrial products company’s stock after selling 1,917 shares during the period. Mackenzie Financial Corp owned about 0.07% of Ingersoll Rand worth $20,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Horizon Investments LLC grew its position in Ingersoll Rand by 2.7% during the second quarter. Horizon Investments LLC now owns 5,837 shares of the industrial products company’s stock valued at $382,000 after buying an additional 152 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Ingersoll Rand by 17.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Ingersoll Rand by 11.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 191 shares during the period. Pinnacle Associates Ltd. lifted 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 purchasing an additional 193 shares in the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in Ingersoll Rand by 3.3% during the third quarter. Catalyst Financial Partners LLC now owns 6,021 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 194 shares during the period. 95.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. UBS Group raised their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, January 29th. BNP Paribas started coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target for the company. Finally, Citigroup boosted their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Stock Performance

NYSE:IR opened at $88.97 on Friday. The company has a market cap of $35.89 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 3.17 and a beta of 1.44. Ingersoll Rand Inc. has a 1 year low of $53.24 and a 1 year high of $96.17. The stock’s 50 day simple moving average is $91.20 and its two-hundred day simple moving average is $78.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

Insider Activity

In other news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the sale, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock valued at $26,374,789 in the last ninety days. Insiders own 0.83% of the company’s stock.

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.