M&T Bank Corp Trims Position in Ingersoll Rand Inc. (NYSE:IR)

M&T Bank Corp trimmed its position in Ingersoll Rand Inc. (NYSE:IR) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,705 shares of the industrial products company’s stock after selling 1,119 shares during the period. M&T Bank Corp’s holdings in Ingersoll Rand were worth $2,374,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IR. FMR LLC lifted its position in Ingersoll Rand by 3.4% during the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after purchasing an additional 627,146 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after purchasing an additional 213,441 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Ingersoll Rand by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,370,883 shares of the industrial products company’s stock worth $492,724,000 after acquiring an additional 166,999 shares during the period. Northern Trust Corp grew its holdings in Ingersoll Rand by 2.4% during the 3rd quarter. Northern Trust Corp now owns 4,005,504 shares of the industrial products company’s stock valued at $255,231,000 after buying an additional 95,559 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Ingersoll Rand by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,059,347 shares of the industrial products company’s stock valued at $131,222,000 after acquiring an additional 28,030 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Up 1.0 %

Shares of IR opened at $90.75 on Thursday. The company’s fifty day simple moving average is $91.90 and its 200-day simple moving average is $81.21. The company has a market cap of $36.61 billion, a P/E ratio of 45.15, a P/E/G ratio of 3.02 and a beta of 1.40. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. Ingersoll Rand Inc. has a twelve month low of $56.49 and a twelve month high of $96.17.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. As a group, analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand announced that its board has authorized a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s payout ratio is currently 3.98%.

Insider Buying and Selling at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock valued at $26,374,789 in the last quarter. 0.83% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IR shares. Cfra raised their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Robert W. Baird raised their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Finally, Barclays decreased their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $95.82.

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.