Bank of New York Mellon Corp Sells 22,382 Shares of Ingersoll Rand Inc. (NYSE:IR)

Bank of New York Mellon Corp trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,424,503 shares of the industrial products company’s stock after selling 22,382 shares during the period. Bank of New York Mellon Corp owned about 1.35% of Ingersoll Rand worth $490,701,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares during the last quarter. FMR LLC increased its position in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after acquiring an additional 1,538,056 shares during the last quarter. 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. increased its position in Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after buying an additional 278,710 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ingersoll Rand by 0.6% in the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after acquiring an additional 54,952 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

NYSE IR opened at $83.38 on Wednesday. Ingersoll Rand Inc. has a 52-week low of $81.71 and a 52-week high of $106.03. The business’s 50-day moving average price is $90.53 and its 200 day moving average price is $94.93. The firm has a market cap of $33.61 billion, a P/E ratio of 40.47, a P/E/G ratio of 3.50 and a beta of 1.43. 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 posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. On average, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IR shares. Citigroup dropped 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. Robert W. Baird lifted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Evercore ISI cut their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Barclays lowered their price objective on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Finally, UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.75.

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.