Amalgamated Bank Has $8.07 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Amalgamated Bank reduced its holdings in Ingersoll Rand Inc. (NYSE:IR) by 5.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 104,299 shares of the industrial products company’s stock after selling 5,948 shares during the quarter. Amalgamated Bank’s holdings in Ingersoll Rand were worth $8,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Ingersoll Rand by 3.4% in the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after acquiring an additional 627,146 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ingersoll Rand by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after purchasing an additional 213,441 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of 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 worth $492,724,000 after purchasing an additional 166,999 shares during the last quarter. Northern Trust Corp raised its stake in shares of Ingersoll Rand by 2.4% during the 3rd quarter. Northern Trust Corp now owns 4,005,504 shares of the industrial products company’s stock worth $255,231,000 after purchasing an additional 95,559 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ingersoll Rand by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,059,347 shares of the industrial products company’s stock valued at $131,222,000 after buying an additional 28,030 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Vicente Reynal sold 240,000 shares of the company’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 sale, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. 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 quarter. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE:IR opened at $86.72 on Friday. The stock has a 50 day simple moving average of $91.96 and a 200 day simple moving average of $80.58. The stock has a market cap of $34.99 billion, a P/E ratio of 43.14, a PEG ratio of 3.02 and a beta of 1.40. Ingersoll Rand Inc. has a 1-year low of $56.49 and a 1-year 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.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.66% and a net margin of 11.85%. Research analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Analysts Set New Price Targets

IR has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group lifted their price target on Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Cfra upped their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Ingersoll Rand 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.