Fiduciary Trust Co Increases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Fiduciary Trust Co lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 19.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,819 shares of the industrial products company’s stock after acquiring an additional 1,127 shares during the quarter. Fiduciary Trust Co’s holdings in Ingersoll Rand were worth $617,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the 4th quarter valued at approximately $38,000. Lee Danner & Bass Inc. purchased a new stake in Ingersoll Rand in the 4th quarter valued at approximately $42,000. Ancora Advisors LLC lifted its stake in Ingersoll Rand by 144.8% in the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after buying an additional 294 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Ingersoll Rand in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IR shares. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Citigroup increased their price target on Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Wells Fargo & Company increased their price target on Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Barclays reduced their price target on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Evercore ISI reduced their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $98.91.

Ingersoll Rand Trading Up 0.1%

IR stock opened at $79.29 on Monday. The company has a market cap of $31.99 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 3.50 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $77.05 and a 200-day simple moving average of $88.48. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is 3.96%.

Ingersoll Rand announced that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.