Ingersoll Rand (NYSE:IR) Price Target Raised to $115.00

Ingersoll Rand (NYSE:IR) had its price target raised by Robert W. Baird from $109.00 to $115.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Barclays decreased their price objective on Ingersoll Rand from $106.00 to $101.00 and set an overweight rating for the company in a research note on Friday. Citigroup raised their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the stock a buy rating in a research report on Monday, April 8th. Wells Fargo & Company upped their target price on Ingersoll Rand from $98.00 to $102.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. StockNews.com downgraded shares of Ingersoll Rand from a buy rating to a hold rating in a report on Saturday, May 4th. Finally, Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a buy rating and a $110.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of Moderate Buy and an average target price of $100.36.

Ingersoll Rand Trading Up 0.9 %

Shares of IR stock traded up $0.82 on Friday, reaching $88.24. 2,220,176 shares of the company’s stock were exchanged, compared to its average volume of 2,669,633. Ingersoll Rand has a 52 week low of $59.20 and a 52 week high of $101.30. The stock has a market capitalization of $35.60 billion, a PE ratio of 43.49, a P/E/G ratio of 2.68 and a beta of 1.45. The company’s fifty day simple moving average is $93.62 and its 200 day simple moving average is $91.05. The company has a current ratio of 2.18, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. As a group, analysts forecast that Ingersoll Rand will post 3.17 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase program on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Thursday, August 15th. Ingersoll Rand’s payout ratio is currently 3.98%.

Insider Buying and Selling at Ingersoll Rand

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

Institutional Investors Weigh In On Ingersoll Rand

A number of hedge funds have recently modified their holdings of the business. Ridgewood Investments LLC purchased a new stake in Ingersoll Rand in the 2nd quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in Ingersoll Rand during the first quarter worth about $28,000. Riverview Trust Co purchased a new position in Ingersoll Rand during the first quarter worth about $29,000. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand in the 4th quarter valued at about $27,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $28,000. 95.27% of the stock is currently 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.