Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $101.00

Ingersoll Rand (NYSE:IR) had its price target decreased by Barclays from $106.00 to $101.00 in a research report report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also issued reports on IR. Citigroup raised their target price on Ingersoll Rand from $105.00 to $112.00 and gave the company a buy rating in a report on Monday, April 8th. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a buy rating in a research note on Thursday, July 18th. StockNews.com lowered shares of Ingersoll Rand from a buy rating to a hold rating in a research report on Saturday, May 4th. Finally, Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $100.36.

Ingersoll Rand Stock Performance

Shares of IR stock traded up $0.82 during trading on Friday, reaching $88.24. The company had a trading volume of 2,220,176 shares, compared to its average volume of 2,669,633. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.71. The firm’s 50 day simple moving average is $93.62 and its two-hundred day simple moving average is $91.05. The company has a market capitalization of $35.60 billion, a PE ratio of 43.49, a PEG ratio of 2.68 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last posted its 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 business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Sell-side analysts forecast that Ingersoll Rand will post 3.17 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

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

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 100,367 shares in the company, valued at $8,843,336.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 198,486 shares of the stock in a transaction dated 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 sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Large investors have recently modified their holdings of the stock. Capital International Investors lifted its holdings in Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. Capital World Investors bought a new stake in shares of Ingersoll Rand during the first quarter worth $440,401,000. Norges Bank acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $301,890,000. JPMorgan Chase & Co. boosted its holdings in Ingersoll Rand by 28.4% in 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 acquiring an additional 3,535,543 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Ingersoll Rand by 46.6% during the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares during the last quarter. 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.