Citizens Business Bank Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Citizens Business Bank lowered its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,518 shares of the industrial products company’s stock after selling 781 shares during the period. Citizens Business Bank’s holdings in Ingersoll Rand were worth $3,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Ingersoll Rand in the 4th quarter worth about $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the 4th quarter valued at about $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $42,000. Ancora Advisors LLC increased its stake in Ingersoll Rand by 144.8% in the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after buying an additional 294 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of Ingersoll Rand during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IR. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price target on shares of Ingersoll Rand from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup raised their target price on Ingersoll Rand from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday. Barclays decreased their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Evercore ISI lowered their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $98.91.

Ingersoll Rand Stock Performance

Shares of NYSE:IR opened at $77.88 on Thursday. The stock has a market capitalization of $31.39 billion, a P/E ratio of 37.81, a P/E/G ratio of 3.50 and a beta of 1.42. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The business has a 50-day moving average price of $77.16 and a two-hundred day moving average price of $88.87.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. Equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.96%.

Ingersoll Rand declared that its board has approved a share buyback program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.