Metis Global Partners LLC Sells 1,759 Shares of Ingersoll Rand Inc. (NYSE:IR)

Metis Global Partners LLC cut its stake in Ingersoll Rand Inc. (NYSE:IR) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 16,448 shares of the industrial products company’s stock after selling 1,759 shares during the period. Metis Global Partners LLC’s holdings in Ingersoll Rand were worth $1,272,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI grew its position in Ingersoll Rand by 9.4% during the 4th quarter. National Bank of Canada FI now owns 95,157 shares of the industrial products company’s stock valued at $7,301,000 after purchasing an additional 8,146 shares during the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $262,000. Sapient Capital LLC purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $322,000. First Horizon Advisors Inc. grew its position in Ingersoll Rand by 280.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,532 shares of the industrial products company’s stock valued at $196,000 after purchasing an additional 1,867 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Ingersoll Rand by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,370,883 shares of the industrial products company’s stock valued at $492,724,000 after purchasing an additional 166,999 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock valued at $26,374,789 over the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IR has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday. Barclays dropped their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup raised their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Cfra raised their price target on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. Finally, UBS Group raised their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.82.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $90.75 on Thursday. The firm’s 50 day moving average price is $91.90 and its 200-day moving average price is $81.21. Ingersoll Rand Inc. has a twelve month low of $56.49 and a twelve month high of $96.17. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $36.61 billion, a PE ratio of 45.15, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Equities research analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

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.