Ingersoll Rand (NYSE:IR) PT Raised to $115.00 at Robert W. Baird

Ingersoll Rand (NYSE:IR) had its target price upped by investment analysts at Robert W. Baird from $109.00 to $115.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 31.55% from the stock’s current price.

Several other equities analysts have also commented on IR. Wells Fargo & Company increased their price objective on Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Citigroup increased their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus raised their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Finally, Jefferies Financial Group initiated coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $98.08.

Ingersoll Rand Stock Down 4.2 %

Shares of NYSE IR opened at $87.42 on Friday. The business’s fifty day moving average price is $93.62 and its 200-day moving average price is $90.95. The stock has a market capitalization of $35.27 billion, a PE ratio of 43.49, a P/E/G ratio of 2.68 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.71. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.30.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion for 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%. On average, equities research analysts anticipate that Ingersoll Rand will post 3.17 EPS for the current year.

Ingersoll Rand announced that its board has approved a share buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

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

Institutional Trading of Ingersoll Rand

Large investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Ingersoll Rand by 24.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock worth $46,948,000 after acquiring an additional 96,982 shares during the period. Nomura Holdings Inc. raised its stake in Ingersoll Rand by 3,010.2% during the 4th quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 204,481 shares during the period. Varenne Capital Partners bought a new stake in Ingersoll Rand during the 4th quarter worth approximately $1,693,000. Illinois Municipal Retirement Fund raised its stake in Ingersoll Rand by 297.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock worth $5,828,000 after acquiring an additional 56,394 shares during the period. Finally, Azzad Asset Management Inc. ADV bought a new stake in Ingersoll Rand during the 1st quarter worth approximately $1,221,000. Institutional investors own 95.27% of the company’s stock.

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.