Citizens Business Bank Reduces Position in Ingersoll Rand Inc. (NYSE:IR)

Citizens Business Bank lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,827 shares of the industrial products company’s stock after selling 1,516 shares during the quarter. Citizens Business Bank’s holdings in Ingersoll Rand were worth $2,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its holdings in shares of Ingersoll Rand by 101.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock worth $108,328,000 after buying an additional 854,314 shares during the last quarter. FMR LLC grew its stake in shares of Ingersoll Rand by 3.4% in the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after purchasing an additional 627,146 shares during the last quarter. Barclays PLC increased its holdings in shares of Ingersoll Rand by 59.8% in the third quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock valued at $55,836,000 after purchasing an additional 327,931 shares during the period. International Assets Investment Management LLC raised its stake in shares of Ingersoll Rand by 7,475.8% during the fourth quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock worth $21,773,000 after purchasing an additional 277,802 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Ingersoll Rand by 45.4% during the third quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock worth $50,765,000 after purchasing an additional 248,634 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the firm’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 owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock worth $26,374,789 over the last ninety days. 0.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on IR shares. Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. UBS Group increased their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Finally, Citigroup raised their price target on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Price Performance

IR stock traded down $0.08 during midday trading on Tuesday, hitting $93.31. 3,619,366 shares of the stock were exchanged, compared to its average volume of 2,474,030. The stock’s 50-day moving average price is $91.78 and its 200-day moving average price is $80.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The stock has a market cap of $37.64 billion, a price-to-earnings ratio of 49.11, a PEG ratio of 3.26 and a beta of 1.44. Ingersoll Rand Inc. has a fifty-two week low of $55.86 and a fifty-two week high of $96.17.

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

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

Ingersoll Rand Announces Dividend

The firm 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 $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

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.