PNC Financial Services Group Inc. Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

PNC Financial Services Group Inc. cut its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,296 shares of the industrial products company's stock after selling 8,087 shares during the period. PNC Financial Services Group Inc.'s holdings in Ingersoll Rand were worth $16,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Chicago Partners Investment Group LLC lifted its position in Ingersoll Rand by 4.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company's stock valued at $218,000 after buying an additional 109 shares in the last quarter. UMB Bank n.a. lifted its position in Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company's stock valued at $54,000 after buying an additional 127 shares in the last quarter. RDA Financial Network lifted its position in Ingersoll Rand by 3.1% during the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company's stock valued at $391,000 after buying an additional 128 shares in the last quarter. FSM Wealth Advisors LLC lifted its position in Ingersoll Rand by 5.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company's stock valued at $222,000 after buying an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Ingersoll Rand by 3.3% during the fourth quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company's stock valued at $388,000 after buying an additional 136 shares in the last quarter. 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 weighed in on IR shares. Stifel Nicolaus reduced their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating on the stock in a research report on Tuesday, February 18th. Evercore ISI dropped their price objective on shares of 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. Barclays dropped their price objective on shares of Ingersoll Rand from $102.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a "buy" rating and a $124.00 price objective on the stock. Finally, Robert W. Baird lifted 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.36.

Ingersoll Rand Stock Performance

Shares of IR traded down $1.54 during midday trading on Thursday, hitting $79.95. 2,180,503 shares of the stock traded hands, compared to its average volume of 2,381,159. The business's 50 day moving average price is $88.50 and its two-hundred day moving average price is $94.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market capitalization of $32.23 billion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand Inc. has a 1-year low of $79.82 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced 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). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand's payout ratio 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.