Fulton Bank N.A. Reduces Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Fulton Bank N.A. lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,220 shares of the industrial products company’s stock after selling 199 shares during the period. Fulton Bank N.A.’s holdings in Ingersoll Rand were worth $512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IR. Elo Mutual Pension Insurance Co lifted its position in Ingersoll Rand by 4.3% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 35,268 shares of the industrial products company’s stock worth $2,728,000 after acquiring an additional 1,451 shares during the period. State of Tennessee Treasury Department increased its stake in Ingersoll Rand by 64.8% in the 4th quarter. State of Tennessee Treasury Department now owns 388,745 shares of the industrial products company’s stock valued at $30,066,000 after purchasing an additional 152,796 shares in the last quarter. Putnam Investments LLC increased its position in shares of Ingersoll Rand by 8.0% in the fourth quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock valued at $730,383,000 after buying an additional 696,610 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Ingersoll Rand by 25.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,939,809 shares of the industrial products company’s stock valued at $150,025,000 after purchasing an additional 395,282 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Ingersoll Rand by 31.3% in the fourth quarter. V Square Quantitative Management LLC now owns 7,484 shares of the industrial products company’s stock worth $579,000 after acquiring an additional 1,782 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.00.

Insiders Place Their Bets

In other news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Performance

IR stock opened at $98.87 on Wednesday. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $101.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The stock has a market capitalization of $39.89 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 2.75 and a beta of 1.42. The stock’s fifty day moving average is $92.44 and its two-hundred day moving average is $92.81.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, research analysts predict that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

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.