Wells Fargo & Company MN Purchases 6,641 Shares of Ingersoll Rand Inc. (NYSE:IR)

Wells Fargo & Company MN increased its position in Ingersoll Rand Inc. (NYSE:IR) by 1.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 423,233 shares of the industrial products company’s stock after buying an additional 6,641 shares during the quarter. Wells Fargo & Company MN’s holdings in Ingersoll Rand were worth $38,286,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IR. Vanguard Group Inc. increased its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after purchasing an additional 649,102 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Ingersoll Rand by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock valued at $1,110,593,000 after purchasing an additional 679,856 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ingersoll Rand by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company’s stock valued at $870,503,000 after purchasing an additional 212,107 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Ingersoll Rand by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 6,825,518 shares of the industrial products company’s stock valued at $617,436,000 after purchasing an additional 80,679 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IR. Evercore ISI decreased their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays decreased their price objective on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.36.

Ingersoll Rand Stock Performance

Shares of IR opened at $70.92 on Friday. The company has a market cap of $28.59 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $82.33 and a 200-day moving average price of $92.11. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

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 the consensus estimate 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 forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 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.