Truist Financial Corp Sells 3,672 Shares of Ingersoll Rand Inc. (NYSE:IR)

Truist Financial Corp lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,783 shares of the industrial products company’s stock after selling 3,672 shares during the period. Truist Financial Corp’s holdings in Ingersoll Rand were worth $8,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IR. Ashton Thomas Securities LLC bought a new stake in shares of Ingersoll Rand in the 3rd quarter valued at about $34,000. Eastern Bank bought a new stake in shares of Ingersoll Rand in the 3rd quarter valued at about $42,000. UMB Bank n.a. grew its position in shares of Ingersoll Rand by 27.0% in the 4th 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 during the last quarter. Versant Capital Management Inc grew its position in shares of Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after buying an additional 589 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Ingersoll Rand during the 3rd quarter valued at about $65,000. Institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of several research analyst reports. Wells Fargo & Company cut their target price 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. Citigroup cut their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. 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 research report on Thursday, December 12th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $83.66 on Friday. The company has a market cap of $33.72 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 3.47 and a beta of 1.43. Ingersoll Rand Inc. has a 52 week low of $83.26 and a 52 week high of $106.03. The business has a 50 day moving average price of $91.15 and a 200-day moving average price of $94.93. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

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 the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.31 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

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.