Truist Financial Corp Sells 3,672 Shares of Ingersoll Rand Inc. (NYSE:IR)

Truist Financial Corp cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,783 shares of the industrial products company’s stock after selling 3,672 shares during the period. Truist Financial Corp’s holdings in Ingersoll Rand were worth $8,303,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. CIBC Asset Management Inc grew its holdings in Ingersoll Rand by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 61,467 shares of the industrial products company’s stock valued at $5,560,000 after purchasing an additional 2,592 shares during the period. Sanctuary Advisors LLC grew its holdings in Ingersoll Rand by 2.6% during the fourth quarter. Sanctuary Advisors LLC now owns 22,798 shares of the industrial products company’s stock valued at $2,143,000 after purchasing an additional 575 shares during the period. Allworth Financial LP grew its holdings in Ingersoll Rand by 30.9% during the fourth quarter. Allworth Financial LP now owns 4,456 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 1,052 shares during the period. Principal Securities Inc. grew its holdings in Ingersoll Rand by 36.9% during the fourth quarter. Principal Securities Inc. now owns 5,476 shares of the industrial products company’s stock valued at $495,000 after purchasing an additional 1,477 shares during the period. Finally, Vivid Wealth Management LLC grew its holdings in Ingersoll Rand by 4.5% during the fourth quarter. Vivid Wealth Management LLC now owns 23,269 shares of the industrial products company’s stock valued at $2,105,000 after purchasing an additional 1,012 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Trading Down 3.6 %

Shares of IR stock opened at $83.66 on Friday. The business’s fifty day moving average is $91.15 and its 200 day moving average is $94.93. Ingersoll Rand Inc. has a 52-week low of $83.26 and a 52-week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The company has a market capitalization of $33.72 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 3.47 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.31 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.88%.

Analysts Set New Price Targets

Several equities analysts have weighed in on IR shares. Citigroup reduced their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group began coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Robert W. Baird raised their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.75.

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.