Ingersoll Rand Inc. (NYSE:IR) Receives Average Rating of “Moderate Buy” from Analysts

Ingersoll Rand Inc. (NYSE:IR) has received an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $97.00.

A number of brokerages have issued reports on IR. Citigroup upped their price objective on shares of 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 reiterated a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Barclays lowered their target price on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Robert W. Baird upped their target price on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $89.54 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The firm’s 50-day simple moving average is $92.00 and its 200 day simple moving average is $87.70. The stock has a market cap of $36.12 billion, a price-to-earnings ratio of 44.55, a PEG ratio of 2.65 and a beta of 1.45. Ingersoll Rand has a fifty-two week low of $59.20 and a fifty-two week high of $96.67.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, research analysts anticipate that Ingersoll Rand will post 3.19 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

Ingersoll Rand announced that its board has approved a share buyback plan on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the sale, the insider now directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Ingersoll Rand

Hedge funds and other institutional investors have recently modified their holdings of the business. Greenleaf Trust raised its position in shares of 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 purchasing an additional 118 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Ingersoll Rand by 8.5% in the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after buying an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 38.5% during the 1st 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 period. Geneos Wealth Management Inc. grew its position in Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after buying an additional 141 shares during the period. Finally, Pitcairn Co. grew its position in shares of Ingersoll Rand by 4.1% during the 1st quarter. Pitcairn Co. now owns 3,829 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 152 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.