Ingersoll Rand Inc. (NYSE:IR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 754,417 shares of the industrial products company’s stock after selling 28,349 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Ingersoll Rand worth $58,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of Ingersoll Rand by 4.8% in the 4th quarter. CWM LLC now owns 10,675 shares of the industrial products company’s stock valued at $826,000 after purchasing an additional 487 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Ingersoll Rand by 1.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,908 shares of the industrial products company’s stock worth $3,241,000 after purchasing an additional 523 shares during the last quarter. Signaturefd LLC increased its holdings in Ingersoll Rand by 25.9% during the 4th quarter. Signaturefd LLC now owns 10,473 shares of the industrial products company’s stock worth $810,000 after purchasing an additional 2,153 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Ingersoll Rand by 38.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,671 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 461 shares during the last quarter. Finally, abrdn plc increased its holdings in Ingersoll Rand by 70.2% during the 4th quarter. abrdn plc now owns 169,575 shares of the industrial products company’s stock worth $13,115,000 after purchasing an additional 69,941 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Down 0.5 %

Shares of Ingersoll Rand stock opened at $92.03 on Friday. The stock’s fifty day moving average is $91.62 and its 200-day moving average is $79.45. The firm has a market capitalization of $37.13 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 3.22 and a beta of 1.44. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a 12-month low of $53.24 and a 12-month high of $96.17.

Ingersoll Rand (NYSE:IR) last posted 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. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s payout ratio is 4.21%.

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,011 shares of company stock valued at $26,374,789. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Cfra boosted their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. BNP Paribas started coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective for the company. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $81.00 to $89.00 in a research report on Tuesday, February 20th. Finally, StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

About Ingersoll Rand

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.