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

Huntington National Bank grew 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 & Exchange Commission. The firm owned 4,084 shares of the industrial products company’s stock after purchasing an additional 309 shares during the period. Huntington National Bank’s holdings in Ingersoll Rand were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IR. Public Sector Pension Investment Board boosted its position in Ingersoll Rand by 13.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company’s stock valued at $1,725,000 after buying an additional 2,100 shares during the period. Verition Fund Management LLC grew its stake in Ingersoll Rand by 108.2% in the third quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company’s stock worth $724,000 after purchasing an additional 3,834 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Ingersoll Rand during the 3rd quarter worth $1,133,000. Centiva Capital LP bought a new stake in Ingersoll Rand during the 3rd quarter valued at $328,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Ingersoll Rand by 171.8% in the 3rd quarter. HighTower Advisors LLC now owns 82,128 shares of the industrial products company’s stock worth $8,059,000 after buying an additional 51,911 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on IR shares. Robert W. Baird raised their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Evercore ISI reduced their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. 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 research note on Monday, January 13th. Wells Fargo & Company reduced 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. Finally, Barclays dropped their target price on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Trading Down 5.5 %

Shares of Ingersoll Rand stock opened at $69.51 on Friday. The stock has a market cap of $28.02 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The firm has a fifty day moving average price of $85.05 and a 200 day moving average price of $93.22. Ingersoll Rand Inc. has a 1 year low of $67.19 and a 1 year high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last issued 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). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities research analysts predict 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 was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s payout ratio is 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.