Northern Trust Corp Has $365.72 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Northern Trust Corp boosted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,042,854 shares of the industrial products company's stock after purchasing an additional 622,246 shares during the period. Northern Trust Corp owned about 1.00% of Ingersoll Rand worth $365,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IR. Vanguard Group Inc. increased its position in shares of Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock valued at $4,132,576,000 after acquiring an additional 446,591 shares during the last quarter. Capital International Investors grew its stake in Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares in the last quarter. Capital World Investors increased its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock worth $1,817,238,000 after purchasing an additional 197,711 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock worth $1,707,729,000 after purchasing an additional 649,102 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after buying an additional 1,320,223 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Ingersoll Rand stock traded up $0.51 during mid-day trading on Friday, reaching $76.72. 4,538,947 shares of the company were exchanged, compared to its average volume of 2,604,960. The company has a fifty day simple moving average of $77.57 and a 200-day simple moving average of $89.36. The firm has a market cap of $30.92 billion, a PE ratio of 37.24, a PEG ratio of 3.50 and a beta of 1.40. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. As a group, equities research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand's dividend payout ratio is currently 3.88%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird raised their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Barclays reduced their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.36.

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.