Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by M&T Bank Corp

M&T Bank Corp raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,583 shares of the industrial products company’s stock after buying an additional 495 shares during the period. M&T Bank Corp’s holdings in Ingersoll Rand were worth $2,766,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Savant Capital LLC increased its position in shares of Ingersoll Rand by 2.3% during the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 158 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Ingersoll Rand during the third quarter valued at $864,000. Nordea Investment Management AB grew its holdings in shares of Ingersoll Rand by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after buying an additional 271,381 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after buying an additional 7,784 shares during the last quarter. Finally, abrdn plc grew its holdings in shares of Ingersoll Rand by 70.5% during the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after buying an additional 108,700 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

NYSE:IR opened at $85.27 on Friday. The firm’s fifty day moving average is $89.18 and its two-hundred day moving average is $94.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. Ingersoll Rand Inc. has a one year low of $79.96 and a one year high of $106.03. The firm has a market cap of $34.37 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last posted 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 net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be 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 is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IR. Barclays dropped their price objective on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Citigroup dropped their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.75.

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.