Ingersoll Rand (NYSE:IR) Hits New 12-Month High – What’s Next?

Ingersoll Rand Inc. (NYSE:IRGet Free Report) shares reached a new 52-week high on Monday . The company traded as high as $105.78 and last traded at $105.75, with a volume of 804830 shares trading hands. The stock had previously closed at $104.00.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IR. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Robert W. Baird decreased their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Barclays boosted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and seven have given a buy 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 $103.83.

Read Our Latest Research Report on IR

Ingersoll Rand Trading Down 0.7 %

The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The firm has a market cap of $41.93 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 4.00 and a beta of 1.42. The company has a 50-day moving average price of $99.91 and a 200 day moving average price of $94.97.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently bought and sold shares of the stock. Wealthspire Advisors LLC raised its position 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 valued at $206,000 after purchasing an additional 119 shares during the period. Kanawha Capital Management LLC lifted its position in Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after acquiring an additional 119 shares during the last quarter. Opal Wealth Advisors LLC boosted its holdings in Ingersoll Rand by 6.0% during the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 121 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of Ingersoll Rand by 4.2% in the second 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. 95.27% of the stock is currently owned by institutional investors.

About Ingersoll Rand

(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.

Further Reading

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