Ingersoll Rand (NYSE:IR) Hits New 1-Year High – Should You Buy?

Ingersoll Rand Inc. (NYSE:IR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $102.98 and last traded at $102.83, with a volume of 82809 shares traded. The stock had previously closed at $97.70.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target on the stock. Barclays raised their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Cfra upped their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, Robert W. Baird decreased their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Ingersoll Rand Stock Performance

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 50 day moving average price of $95.81 and a 200 day moving average price of $93.67. The stock has a market cap of $41.35 billion, a PE ratio of 50.50, a price-to-earnings-growth ratio of 2.59 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at $599,623.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,660 shares of company stock valued at $5,974,334. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently made changes to their positions in IR. Capital International Investors raised its position in shares of Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after purchasing an additional 13,919,775 shares during the last quarter. Capital World Investors acquired a new stake in shares of Ingersoll Rand during the first quarter worth $440,401,000. JPMorgan Chase & Co. grew its holdings in shares of Ingersoll Rand by 28.4% during the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after buying an additional 3,535,543 shares during the last quarter. Capital Research Global Investors increased its position in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after acquiring an additional 1,504,414 shares during the period. Finally, Swedbank AB purchased a new position in Ingersoll Rand in the 1st quarter worth $55,310,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Company Profile

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.