M&T Bank Corp Grows Stock Position in Ingersoll Rand Inc. (NYSE:IR)

M&T Bank Corp lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,088 shares of the industrial products company’s stock after buying an additional 329 shares during the quarter. M&T Bank Corp’s holdings in Ingersoll Rand were worth $2,953,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. State Street Corp raised its stake in Ingersoll Rand by 0.7% in the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after buying an additional 112,824 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Ingersoll Rand by 1.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock worth $662,074,000 after buying an additional 114,727 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ingersoll Rand by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company’s stock valued at $216,763,000 after acquiring an additional 21,289 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of IR opened at $101.10 on Friday. The stock has a market capitalization of $40.74 billion, a P/E ratio of 49.32, a P/E/G ratio of 3.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand Inc. has a 1 year low of $74.01 and a 1 year high of $106.03. The company’s fifty day moving average is $101.10 and its two-hundred day moving average is $95.73.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Analysts Set New Price Targets

Several research firms recently weighed in on IR. Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group boosted their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird dropped their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Citigroup boosted their target price on Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $107.67.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by corporate insiders.

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.