Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN grew its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,233 shares of the industrial products company's stock after acquiring an additional 6,641 shares during the period. Wells Fargo & Company MN owned 0.11% of Ingersoll Rand worth $38,286,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Ingersoll Rand in the fourth quarter worth approximately $429,591,000. JPMorgan Chase & Co. increased its stake in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Franklin Resources Inc. raised its stake in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock worth $1,110,593,000 after acquiring an additional 679,856 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in Ingersoll Rand in the fourth quarter valued at approximately $47,763,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Ingersoll Rand during the fourth quarter worth $45,004,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

IR stock traded down $0.33 during midday trading on Wednesday, reaching $72.50. The stock had a trading volume of 208,981 shares, compared to its average volume of 2,825,064. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a market cap of $29.22 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The company's fifty day simple moving average is $81.17 and its 200 day simple moving average is $91.62. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

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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). The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Ingersoll Rand's payout ratio is 3.88%.

Analyst Ratings Changes

IR has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Evercore ISI lowered their target price 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 cut their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Robert W. Baird increased their price target on Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research report on Monday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $100.36.

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.