Huntington National Bank Grows Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Huntington National Bank increased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,084 shares of the industrial products company’s stock after buying an additional 309 shares during the quarter. Huntington National Bank’s holdings in Ingersoll Rand were worth $369,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IR. Vanguard Group Inc. grew its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after acquiring an additional 446,591 shares during the period. JPMorgan Chase & Co. grew its holdings in Ingersoll Rand by 3.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after purchasing an additional 649,102 shares during the period. State Street Corp increased its position in Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after buying an additional 112,824 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after buying an additional 679,856 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Ingersoll Rand by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock valued at $870,503,000 after buying an additional 212,107 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Citigroup cut their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays decreased their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, Robert W. Baird upped 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Price Performance

IR stock opened at $69.51 on Friday. Ingersoll Rand Inc. has a 52 week low of $67.19 and a 52 week high of $106.03. The firm has a market capitalization of $28.02 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a fifty day simple moving average of $85.05 and a two-hundred day simple moving average of $93.22. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

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

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand’s dividend 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.