Sigma Planning Corp Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Sigma Planning Corp decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 68.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,656 shares of the industrial products company’s stock after selling 8,050 shares during the quarter. Sigma Planning Corp’s holdings in Ingersoll Rand were worth $283,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand during the third quarter worth about $25,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Ingersoll Rand during the fourth quarter worth about $27,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Ingersoll Rand during the third quarter worth about $28,000. Clearstead Advisors LLC grew its holdings in shares of Ingersoll Rand by 348.2% during the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after buying an additional 383 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Ingersoll Rand during the third quarter worth about $32,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Cfra raised their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. BNP Paribas assumed coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Finally, Barclays raised their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Price Performance

IR stock opened at $93.50 on Friday. The firm has a 50 day moving average of $91.70 and a 200-day moving average of $79.76. Ingersoll Rand Inc. has a 12-month low of $54.54 and a 12-month high of $96.17. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The company has a market cap of $37.72 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 3.21 and a beta of 1.44.

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

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 4.21%.

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

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 7,590 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand 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 completion of the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 in the last ninety days. Corporate 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.