Ingersoll Rand Inc. (NYSE:IR) Position Increased by Cibc World Markets Corp

Cibc World Markets Corp raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,613 shares of the industrial products company’s stock after buying an additional 8,832 shares during the period. Cibc World Markets Corp’s holdings in Ingersoll Rand were worth $5,754,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC boosted its stake in Ingersoll Rand by 120.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,318 shares of the industrial products company’s stock worth $718,000 after purchasing an additional 4,001 shares during the period. Empowered Funds LLC boosted its stake in Ingersoll Rand by 7.8% in the 3rd quarter. Empowered Funds LLC now owns 6,416 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 463 shares during the period. Pathstone Holdings LLC boosted its stake in Ingersoll Rand by 3.7% in the 3rd quarter. Pathstone Holdings LLC now owns 32,760 shares of the industrial products company’s stock worth $3,216,000 after purchasing an additional 1,171 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in Ingersoll Rand by 7.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,755 shares of the industrial products company’s stock worth $761,000 after purchasing an additional 512 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Ingersoll Rand in the 3rd quarter worth approximately $2,285,000. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IR shares. Wells Fargo & Company decreased their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Evercore ISI cut their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Barclays cut their target price on shares of Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Citigroup cut their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.36.

Ingersoll Rand Stock Up 0.6 %

Ingersoll Rand stock opened at $82.08 on Thursday. The company has a market capitalization of $33.09 billion, a P/E ratio of 39.85, a P/E/G ratio of 3.50 and a beta of 1.48. The firm’s fifty day simple moving average is $87.83 and its 200-day simple moving average is $94.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 1-year low of $79.79 and a 1-year high of $106.03.

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 the consensus estimate of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

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

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.