Synovus Financial Corp Sells 471 Shares of Ingersoll Rand Inc. (NYSE:IR)

Synovus Financial Corp lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,104 shares of the industrial products company’s stock after selling 471 shares during the quarter. Synovus Financial Corp’s holdings in Ingersoll Rand were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IR. Norges Bank acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at about $429,591,000. JPMorgan Chase & Co. increased its position in Ingersoll Rand by 8.7% in 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 buying an additional 1,462,538 shares in the last quarter. FMR LLC raised its stake in Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after buying an additional 1,320,223 shares during the period. Franklin Resources Inc. boosted its holdings in Ingersoll Rand by 5.9% in the fourth 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 in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in Ingersoll Rand in the fourth quarter valued at approximately $47,763,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 1.0 %

NYSE IR opened at $72.05 on Friday. The business’s fifty day moving average is $80.38 and its 200-day moving average is $91.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.50 and a beta of 1.40. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a $0.02 dividend. 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 presently 3.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays cut their target price on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Citigroup reduced their price objective on shares of Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating for the company in a report on Monday. Stifel Nicolaus lowered their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a report on Monday. Evercore ISI cut their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, Robert W. Baird raised their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

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.