Ingersoll Rand (NYSE:IR) Price Target Raised to $121.00

Ingersoll Rand (NYSE:IR) had its price target upped by The Goldman Sachs Group from $109.00 to $121.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. Cfra raised their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company raised their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Robert W. Baird cut their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.67.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $101.10 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand has a fifty-two week low of $74.01 and a fifty-two week high of $106.03. The company has a market capitalization of $40.74 billion, a P/E ratio of 49.32, a PEG ratio of 3.86 and a beta of 1.42. The stock has a 50 day moving average price of $101.10 and a two-hundred day moving average price of $95.75.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend was Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Institutional investors have recently bought and sold shares of the company. Swedbank AB lifted its stake in shares of Ingersoll Rand by 34.0% in the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after buying an additional 198,200 shares in the last quarter. Virtu Financial LLC purchased a new position in Ingersoll Rand in the 3rd quarter worth approximately $864,000. Daiwa Securities Group Inc. lifted its position in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 7,784 shares in the last quarter. GDS Wealth Management increased its holdings in shares of Ingersoll Rand by 6.4% in the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after purchasing an additional 10,081 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Ingersoll Rand by 28.2% in the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock worth $9,987,000 after purchasing an additional 22,401 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.