Peapack Gladstone Financial Corp Trims Stake in Ingersoll Rand Inc. (NYSE:IR)

Peapack Gladstone Financial Corp lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,695 shares of the industrial products company’s stock after selling 1,923 shares during the period. Peapack Gladstone Financial Corp’s holdings in Ingersoll Rand were worth $10,828,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IR. Murphy & Mullick Capital Management Corp purchased a new position in Ingersoll Rand in the fourth quarter valued at about $36,000. OFI Invest Asset Management purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $38,000. Lee Danner & Bass Inc. acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at about $42,000. Millstone Evans Group LLC acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth about $50,000. Finally, UMB Bank n.a. boosted its position in Ingersoll Rand by 27.0% in the fourth 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. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE:IR opened at $69.51 on Monday. Ingersoll Rand Inc. has a 12 month low of $67.19 and a 12 month high of $106.03. 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 firm has a market capitalization of $28.02 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The business’s fifty day moving average price is $85.05 and its 200 day moving average price is $93.21.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group raised 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. Citigroup dropped their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays reduced their price target on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.09.

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.