California Public Employees Retirement System Sells 28,349 Shares of Ingersoll Rand Inc. (NYSE:IR)

California Public Employees Retirement System cut its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 754,417 shares of the industrial products company’s stock after selling 28,349 shares during the period. California Public Employees Retirement System’s holdings in Ingersoll Rand were worth $58,347,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Ingersoll Rand in the third quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $27,000. Quintet Private Bank Europe S.A. bought a new position in shares of Ingersoll Rand during the 3rd quarter worth approximately $28,000. Clearstead Advisors LLC raised its position 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 purchasing an additional 383 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Ingersoll Rand during the third quarter worth approximately $32,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 0.5 %

NYSE IR opened at $92.03 on Friday. Ingersoll Rand Inc. has a 12 month low of $53.24 and a 12 month high of $96.17. The firm has a market capitalization of $37.13 billion, a P/E ratio of 48.44, a PEG ratio of 3.22 and a beta of 1.44. The business has a fifty day simple moving average of $91.62 and a 200 day simple moving average of $79.45. 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 announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. On average, analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders 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 dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 4.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company upped their target price on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Finally, Citigroup upped their target price on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.73.

Insider Activity

In other news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the transaction, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. 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. 0.83% of the stock is currently owned by insiders.

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.