Glenview Trust co Buys 2,304 Shares of Ingersoll Rand Inc. (NYSE:IR)

Glenview Trust co increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,344 shares of the industrial products company’s stock after acquiring an additional 2,304 shares during the period. Glenview Trust co’s holdings in Ingersoll Rand were worth $16,947,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $38,000. UMB Bank n.a. lifted its stake in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 127 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 589 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Ingersoll Rand during the 4th quarter worth about $99,000. Finally, WASHINGTON TRUST Co lifted its stake in Ingersoll Rand by 18.5% in the 4th quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 177 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IR. Barclays lowered their price target on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Stifel Nicolaus cut their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Robert W. Baird upped 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. 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 note on Monday, January 13th. Finally, The Goldman Sachs Group upped their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $105.36.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $81.88 on Friday. The business has a fifty day moving average price of $88.29 and a two-hundred day moving average price of $94.21. The stock has a market capitalization of $33.00 billion, a PE ratio of 39.75, a P/E/G ratio of 3.50 and a beta of 1.48. 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 Inc. has a fifty-two week low of $79.79 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given 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 3.88%.

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.