Ingersoll Rand (NYSE:IR) Stock Breaks Above 50 Day Moving Average – Here’s Why

Ingersoll Rand Inc. (NYSE:IR)’s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $76.29 and traded as high as $80.23. Ingersoll Rand shares last traded at $79.9080, with a volume of 8,449,400 shares changing hands.

Ingersoll Rand News Roundup

Here are the key news stories impacting Ingersoll Rand this week:

• Positive Sentiment: Adjusted earnings were $1.07 per share, well above the $0.89–$0.90 analyst consensus and up from $0.86 a year earlier. The earnings beat is the primary catalyst for the stock’s increase. Ingersoll Rand Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Revenue reached $2.06 billion, narrowly beating the $2.05 billion estimate and increasing 5.6% year over year. The combination of sales growth and stronger-than-expected profitability suggests solid operating execution. Ingersoll Rand Q3 Earnings Flash
• Positive Sentiment: Coverage also pointed to strong industrial orders, providing an encouraging signal for future demand and helping explain the favorable market reaction. Ingersoll Rand Jumps After Earnings
• Neutral Sentiment: Investors will continue to assess segment growth, acquisition synergies and the company’s outlook. Earlier previews identified rising costs and currency headwinds as potential pressures on margins, although the reported quarter still produced a significant earnings beat. Ingersoll Rand Q3 Earnings Preview

Analyst Ratings Changes

IR has been the subject of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, October 19th. Stifel Nicolaus set a $93.00 target price on Ingersoll Rand in a research report on Monday, October 19th. Morgan Stanley set a $87.00 target price on Ingersoll Rand in a research report on Monday, August 10th. Robert W. Baird increased their target price on Ingersoll Rand from $103.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Ingersoll Rand Stock Up 5.9%

The stock has a fifty day moving average price of $76.29 and a two-hundred day moving average price of $81.28. The company has a market cap of $31.00 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 3.13 and a beta of 1.15. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.90 by $0.17. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Ingersoll Rand’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ingersoll Rand Inc. will post 3.41 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s payout ratio is 3.29%.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, Director Aurobind Satpathy acquired 11,538 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was purchased at an average price of $86.68 per share, with a total value of $1,000,113.84. Following the acquisition, the director directly owned 11,538 shares of the company’s stock, valued at approximately $1,000,113.84. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ingersoll Rand

A number of large investors have recently added to or reduced their stakes in IR. Bell Investment Advisors Inc acquired a new position in Ingersoll Rand in the 2nd quarter valued at $26,000. Continuum Advisory LLC bought a new stake in shares of Ingersoll Rand during the 2nd quarter valued at $27,000. Axiom Investment Management LLC bought a new stake in shares of Ingersoll Rand during the 1st quarter valued at $37,000. MidFirst Bank acquired a new stake in shares of Ingersoll Rand during the 2nd quarter worth $41,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Ingersoll Rand during the 2nd quarter worth $42,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

Ingersoll Rand Inc (NYSE:IR) is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.