Zurcher Kantonalbank Zurich Cantonalbank Has $19.97 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 43.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 258,229 shares of the industrial products company’s stock after purchasing an additional 78,253 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ingersoll Rand were worth $19,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IR. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the 4th quarter worth about $27,000. Quintet Private Bank Europe S.A. purchased a new stake in Ingersoll Rand in the 3rd quarter worth 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 worth $29,000 after acquiring an additional 423 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its stake in Ingersoll Rand by 348.2% in the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 383 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the subject of several research analyst reports. Evercore ISI downgraded Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price objective for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. UBS Group increased their price objective on Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Cfra increased their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. StockNews.com raised Ingersoll Rand from a “hold” rating to a “buy” rating in a research note on Sunday, April 7th. Finally, Citigroup raised their price target on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. 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 price target of $92.73.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction 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 completion of 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 filing with the SEC, which is available through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction 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 valued at $26,374,789. Corporate insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Down 1.4 %

Shares of IR stock opened at $89.57 on Thursday. The stock’s 50 day simple moving average is $91.12 and its 200 day simple moving average is $78.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. Ingersoll Rand Inc. has a twelve month low of $53.24 and a twelve month high of $96.17. The company has a market capitalization of $36.14 billion, a price-to-earnings ratio of 47.14, a PEG ratio of 3.17 and a beta of 1.44.

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, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.76 billion. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were paid a $0.02 dividend. 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%.

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.