Insider Selling: Ingersoll Rand Inc. (NYSE:IR) Insider Sells 3,500 Shares of Stock

Ingersoll Rand Inc. (NYSE:IR) insider Elizabeth Meloy Hepding sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the transaction, the insider now directly owns 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ingersoll Rand Trading Up 1.2%

Shares of IR opened at $84.03 on Friday. The company’s fifty day moving average is $77.02 and its 200 day moving average is $88.15. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The stock has a market capitalization of $33.90 billion, a PE ratio of 40.79, a P/E/G ratio of 3.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, May 15th. Ingersoll Rand’s payout ratio is 3.96%.

Ingersoll Rand declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IR. Norges Bank purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $429,591,000. T. Rowe Price Investment Management Inc. lifted its holdings in Ingersoll Rand by 28.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after buying an additional 3,989,643 shares in the last quarter. Nuveen LLC purchased a new stake in Ingersoll Rand in the 1st quarter valued at about $211,408,000. Price T Rowe Associates Inc. MD grew its stake in Ingersoll Rand by 10.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock worth $1,536,464,000 after acquiring an additional 1,849,030 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after acquiring an additional 1,606,363 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Robert W. Baird raised their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Evercore ISI decreased their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.91.

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.