Mackenzie Financial Corp Lowers Position in Ingersoll Rand Inc. (NYSE:IR)

Mackenzie Financial Corp cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 267,276 shares of the industrial products company’s stock after selling 1,917 shares during the period. Mackenzie Financial Corp’s holdings in Ingersoll Rand were worth $20,671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the third quarter worth $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth about $27,000. Quintet Private Bank Europe S.A. purchased a new position in Ingersoll Rand in the 3rd quarter valued at about $28,000. Lazard Asset Management LLC lifted its stake in Ingersoll Rand by 1,566.7% in the 2nd quarter. Lazard Asset Management LLC now owns 450 shares of the industrial products company’s stock valued at $29,000 after buying an additional 423 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in Ingersoll Rand by 348.2% during the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after buying an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group lifted their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Citigroup increased their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price target for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The shares were 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 in the company, valued at $854,920. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael J. Scheske sold 7,590 shares of the firm’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 transaction, 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. In the last ninety days, insiders have sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $88.97 on Friday. The firm has a 50 day simple moving average of $91.20 and a 200-day simple moving average of $78.51. The stock has a market cap of $35.89 billion, a price-to-earnings ratio of 46.83, a price-to-earnings-growth ratio of 3.17 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. Ingersoll Rand Inc. has a 1-year low of $53.24 and a 1-year high of $96.17.

Ingersoll Rand (NYSE:IR) last issued 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. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. On average, analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s payout ratio is 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.