CIBC Private Wealth Group LLC Sells 14,619 Shares of Ingersoll Rand Inc. (NYSE:IR)

CIBC Private Wealth Group LLC lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 472,140 shares of the industrial products company’s stock after selling 14,619 shares during the period. CIBC Private Wealth Group LLC’s holdings in Ingersoll Rand were worth $42,129,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Public Sector Pension Investment Board increased its stake in Ingersoll Rand by 13.6% during the third quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company’s stock worth $1,725,000 after acquiring an additional 2,100 shares during the last quarter. PEAK6 Investments LLC increased its position in shares of Ingersoll Rand by 5.8% during the 3rd quarter. PEAK6 Investments LLC now owns 19,038 shares of the industrial products company’s stock valued at $1,869,000 after purchasing an additional 1,038 shares during the last quarter. Verition Fund Management LLC raised its holdings in Ingersoll Rand by 108.2% during the 3rd quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company’s stock valued at $724,000 after buying an additional 3,834 shares during the period. Edgestream Partners L.P. lifted its position in Ingersoll Rand by 99.5% in the third quarter. Edgestream Partners L.P. now owns 17,031 shares of the industrial products company’s stock worth $1,672,000 after buying an additional 8,496 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Ingersoll Rand during the third quarter worth $424,000. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IR. Citigroup reduced their target price 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. Evercore ISI cut their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Stock Down 2.4 %

NYSE:IR opened at $79.38 on Monday. 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 1-year low of $79.03 and a 1-year high of $106.03. The company has a 50-day moving average of $86.69 and a 200 day moving average of $93.73. The firm has a market cap of $32.00 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

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 the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Ingersoll Rand 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.