Northern Trust Corp Buys 622,246 Shares of Ingersoll Rand Inc. (NYSE:IR)

Northern Trust Corp grew its position in Ingersoll Rand Inc. (NYSE:IR) by 18.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,042,854 shares of the industrial products company’s stock after acquiring an additional 622,246 shares during the period. Northern Trust Corp’s holdings in Ingersoll Rand were worth $365,717,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Ingersoll Rand in the 4th quarter valued at approximately $429,591,000. Capital International Investors increased its position in Ingersoll Rand by 4.6% in the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock valued at $3,317,537,000 after acquiring an additional 1,606,363 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares during the last quarter. FMR LLC lifted its holdings in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IR. Barclays cut their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Citigroup reduced their target price on Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, 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 research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

Ingersoll Rand Trading Up 0.1 %

NYSE:IR opened at $74.85 on Wednesday. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. 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 market capitalization of $30.17 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 3.50 and a beta of 1.40. The firm has a fifty day simple moving average of $78.00 and a two-hundred day simple moving average of $89.80.

Ingersoll Rand (NYSE:IR) last issued its 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Ingersoll Rand Company 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.