Ingersoll Rand (NYSE:IR) PT Lowered to $98.00

Ingersoll Rand (NYSE:IR) had its price target reduced by Wells Fargo & Company from $105.00 to $98.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other research firms have also recently commented on IR. UBS Group boosted their price target on Ingersoll Rand from $78.00 to $93.00 and gave the stock a buy rating in a report on Monday, January 29th. Cfra boosted their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a hold rating in a research note on Friday, February 16th. Citigroup raised their target price on Ingersoll Rand from $105.00 to $112.00 and gave the stock a buy rating in a research report on Monday, April 8th. Stifel Nicolaus reaffirmed a buy rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Finally, Robert W. Baird increased their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an outperform rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $95.82.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $91.00 on Monday. The business has a fifty day moving average price of $91.92 and a two-hundred day moving average price of $81.28. The stock has a market capitalization of $36.71 billion, a PE ratio of 45.27, a P/E/G ratio of 3.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand has a fifty-two week low of $56.49 and a fifty-two week high of $96.17.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, equities analysts predict that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has authorized a stock repurchase plan on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Ingersoll Rand in the first quarter worth $28,000. Riverview Trust Co bought a new position in Ingersoll Rand in the 1st quarter worth $29,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth about $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $28,000. Finally, Scarborough Advisors LLC bought a new position in Ingersoll Rand in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.