Ingersoll Rand (NYSE:IR) PT Raised to $105.00

by · The Cerbat Gem

Ingersoll Rand (NYSE:IR – Free Report) had its target price hoisted by Barclays from $101.00 to $105.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

IR has been the subject of several other reports. Stifel Nicolaus increased their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Morgan Stanley began coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They issued an equal weight rating and a $97.00 price target for the company. Evercore ISI lowered their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an in-line rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a buy rating and a $110.00 target price for the company. Finally, Robert W. Baird boosted their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an outperform rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $101.17.

View Our Latest Analysis on Ingersoll Rand

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $101.13 on Wednesday. Ingersoll Rand has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The firm’s 50 day simple moving average is $92.42 and its 200-day simple moving average is $92.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The company has a market cap of $40.80 billion, a P/E ratio of 50.31, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42.

Ingersoll Rand (NYSE:IR – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. As a group, equities research analysts predict that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Insiders Place Their Bets

In other news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock valued at $7,108,005 over the last quarter. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Several large investors have recently made changes to their positions in IR. Greenleaf Trust increased its position in Ingersoll Rand by 2.0% in the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after buying an additional 118 shares during the period. Wealthspire Advisors LLC grew its stake in shares of Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 119 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the period. Resonant Capital Advisors LLC raised its stake in Ingersoll Rand by 4.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Ingersoll Rand by 28.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

(Get Free Report)

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.

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