Robert W. Baird Lowers Ingersoll Rand (NYSE:IR) Price Target to $109.00

Ingersoll Rand (NYSE:IR) had its target price trimmed by Robert W. Baird from $114.00 to $109.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Wells Fargo & Company increased their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Cfra raised their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Evercore ISI reduced their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.67.

Ingersoll Rand Stock Up 1.6 %

Shares of NYSE:IR traded up $1.53 during midday trading on Monday, hitting $96.14. 131,877 shares of the company’s stock were exchanged, compared to its average volume of 2,530,964. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand has a 12 month low of $64.60 and a 12 month high of $102.74. The company has a market cap of $38.79 billion, a PE ratio of 46.15, a price-to-earnings-growth ratio of 2.57 and a beta of 1.42. The stock has a 50 day moving average price of $95.40 and a 200-day moving average price of $93.54.

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. This trade 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 at the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Several hedge funds have recently made changes to their positions in IR. Janney Montgomery Scott LLC boosted its position in shares of Ingersoll Rand by 20.4% in the first quarter. Janney Montgomery Scott LLC now owns 46,261 shares of the industrial products company’s stock valued at $4,393,000 after acquiring an additional 7,824 shares during the period. Signaturefd LLC increased its holdings in shares of Ingersoll Rand by 4.0% in the first quarter. Signaturefd LLC now owns 10,897 shares of the industrial products company’s stock worth $1,035,000 after purchasing an additional 424 shares during the period. Essex LLC purchased a new stake in shares of Ingersoll Rand in the first quarter worth $202,000. Geneos Wealth Management Inc. boosted its stake in Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after buying an additional 141 shares during the period. Finally, Oxbow Advisors LLC bought a new stake in Ingersoll Rand during the first quarter valued at $218,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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.