Ingersoll Rand (NYSE:IR) Price Target Increased to $112.00 by Analysts at Stifel Nicolaus

Ingersoll Rand (NYSE:IR) had its price objective boosted by Stifel Nicolaus from $101.00 to $112.00 in a report issued on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also weighed in on the company. Evercore ISI cut their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 price target for the company. Finally, Morgan Stanley started coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $102.17.

Ingersoll Rand Price Performance

IR opened at $100.40 on Wednesday. The firm has a market cap of $40.50 billion, a price-to-earnings ratio of 49.95, a PEG ratio of 2.72 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $94.09 and its 200 day moving average price is $93.19. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $102.74.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, sell-side analysts expect that Ingersoll Rand will post 3.22 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Insider Buying and Selling

In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock worth $7,108,005 in the last quarter. 0.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IR. Allspring Global Investments Holdings LLC raised its stake in shares of Ingersoll Rand by 11.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,063 shares of the industrial products company’s stock worth $31,123,000 after buying an additional 32,961 shares in the last quarter. OLD National Bancorp IN grew its holdings in Ingersoll Rand by 5.4% during the third quarter. OLD National Bancorp IN now owns 3,118 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 159 shares during the period. Essex LLC purchased a new position in Ingersoll Rand in the third quarter worth $200,000. Whitaker Myers Wealth Managers LTD. purchased a new position in Ingersoll Rand in the third quarter worth $257,000. Finally, Raymond James & Associates boosted its position in shares of Ingersoll Rand by 51.1% during the 3rd quarter. Raymond James & Associates now owns 353,809 shares of the industrial products company’s stock worth $34,730,000 after purchasing an additional 119,656 shares in 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.