Ingersoll Rand Inc. (NYSE:IR) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 472,140 shares of the industrial products company's stock after selling 14,619 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.12% of Ingersoll Rand worth $42,129,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Savant Capital LLC increased its position in Ingersoll Rand by 2.3% during the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock worth $628,000 after purchasing an additional 158 shares during the period. Virtu Financial LLC purchased a new position in Ingersoll Rand in the third quarter worth $864,000. Nordea Investment Management AB lifted its holdings in Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock valued at $153,867,000 after acquiring an additional 271,381 shares during the period. abrdn plc grew its stake in shares of Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock worth $23,851,000 after purchasing an additional 108,700 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in shares of Ingersoll Rand by 441.4% in the fourth quarter. AdvisorNet Financial Inc now owns 18,652 shares of the industrial products company's stock valued at $1,687,000 after purchasing an additional 15,207 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on IR shares. Evercore ISI dropped their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. 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 research note on Tuesday, February 18th. Robert W. Baird boosted 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. The Goldman Sachs Group upped their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company cut their price target on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's 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 Price Performance

IR stock traded down $4.01 during trading on Friday, hitting $69.51. The stock had a trading volume of 6,552,942 shares, compared to its average volume of 2,472,963. Ingersoll Rand Inc. has a 1-year low of $67.19 and a 1-year high of $106.03. The stock has a market cap of $28.02 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company's 50 day moving average price is $85.05 and its two-hundred day moving average price is $93.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (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 firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand's dividend payout ratio is currently 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.