Insider Selling: Ingersoll Rand Inc. (NYSE:IR) Insider Sells $2,061,750.73 in Stock

Ingersoll Rand Inc. (NYSE:IR) insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $95.10 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The stock’s fifty day moving average price is $92.40 and its two-hundred day moving average price is $83.57. Ingersoll Rand Inc. has a one year low of $56.49 and a one year high of $96.67. The firm has a market cap of $38.37 billion, a price-to-earnings ratio of 47.31, a P/E/G ratio of 3.12 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.14 EPS for the current year.

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

Ingersoll Rand Announces Dividend

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

Institutional Trading of Ingersoll Rand

Large investors have recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd purchased a new position in shares of Ingersoll Rand in the fourth quarter valued at $27,000. Quintet Private Bank Europe S.A. bought a new stake in Ingersoll Rand during the third quarter worth about $28,000. Kapitalo Investimentos Ltda bought a new stake in Ingersoll Rand during the fourth quarter worth about $28,000. Headlands Technologies LLC bought a new stake in Ingersoll Rand during the first quarter worth about $28,000. Finally, Riverview Trust Co bought a new stake in shares of Ingersoll Rand in the 1st quarter valued at about $29,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IR. Cfra raised their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. BNP Paribas began coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Wells Fargo & Company cut their target price on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Finally, Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their price objective for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $95.82.

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.