Ingersoll Rand (NYSE:IR) Shares Gap Down Following Weak Earnings

Ingersoll Rand Inc. (NYSE:IR) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $92.55, but opened at $88.00. Ingersoll Rand shares last traded at $87.72, with a volume of 1,484,883 shares changing hands.

The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 13.01% and a net margin of 11.72%.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given 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 Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IR shares. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird decreased their price objective 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. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Barclays lowered their price target on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup cut their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds have recently bought and sold shares of IR. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the 3rd quarter valued at $34,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand during the 4th quarter worth $36,000. Eastern Bank bought a new position in Ingersoll Rand in the third quarter valued at about $42,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the fourth quarter worth about $38,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Ingersoll Rand in the fourth quarter worth about $42,000. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

The stock has a market cap of $35.26 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The business’s 50-day simple moving average is $93.08 and its two-hundred day simple moving average is $95.27.

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.