M&T Bank Corp Raises Holdings in Ingersoll Rand Inc. (NYSE:IR)

M&T Bank Corp grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,583 shares of the industrial products company’s stock after purchasing an additional 495 shares during the period. M&T Bank Corp’s holdings in Ingersoll Rand were worth $2,766,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc grew its position in Ingersoll Rand by 5.6% in the fourth quarter. Atria Investments Inc now owns 14,135 shares of the industrial products company’s stock worth $1,279,000 after acquiring an additional 754 shares in the last quarter. Assetmark Inc. grew its position in Ingersoll Rand by 34.3% in the fourth quarter. Assetmark Inc. now owns 131,226 shares of the industrial products company’s stock worth $11,871,000 after acquiring an additional 33,503 shares in the last quarter. Keybank National Association OH grew its position in Ingersoll Rand by 5.3% in the fourth quarter. Keybank National Association OH now owns 12,440 shares of the industrial products company’s stock worth $1,125,000 after acquiring an additional 630 shares in the last quarter. Exencial Wealth Advisors LLC grew its position in Ingersoll Rand by 12.7% in the fourth quarter. Exencial Wealth Advisors LLC now owns 2,892 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 327 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in Ingersoll Rand by 17.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 3,027 shares of the industrial products company’s stock worth $275,000 after acquiring an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company dropped their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Citigroup dropped their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus dropped their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group boosted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $85.27 on Friday. The company has a 50 day moving average price of $89.18 and a 200-day moving average price of $94.52. 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 Inc. has a fifty-two week low of $79.96 and a fifty-two week high of $106.03. The company has a market capitalization of $34.37 billion, a PE ratio of 41.39, a P/E/G ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data 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). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. As a group, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is 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.