Ingersoll Rand Inc. (NYSE:IR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,296 shares of the industrial products company’s stock after selling 8,087 shares during the period. PNC Financial Services Group Inc.’s holdings in Ingersoll Rand were worth $16,852,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Ingersoll Rand in the third quarter valued at approximately $34,000. UMB Bank n.a. increased its holdings in Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares in the last quarter. Versant Capital Management Inc raised its position in Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares during the period. Venturi Wealth Management LLC purchased a new position in Ingersoll Rand during the fourth quarter valued at $99,000. Finally, WASHINGTON TRUST Co grew its position in shares of Ingersoll Rand by 18.5% in the fourth quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the subject of several research analyst reports. Stifel Nicolaus reduced their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Robert W. Baird lifted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Barclays reduced their price objective on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.25.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $83.52 on Tuesday. The firm has a 50 day simple moving average of $89.04 and a 200-day simple moving average of $94.50. The stock has a market cap of $33.67 billion, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1-year low of $79.97 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. On average, analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand’s payout ratio is currently 3.88%.

Ingersoll Rand 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.