Ingersoll Rand Inc. (NYSE:IR) Receives $107.67 Average PT from Analysts

Shares of Ingersoll Rand Inc. (NYSE:IR) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $107.67.

Several brokerages have recently issued reports on IR. The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Citigroup upped their price objective on shares of Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird decreased their target price 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, Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price target for the company from $112.00 to $107.00 in a report on Monday, November 18th.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by company insiders.

Institutional Trading of Ingersoll Rand

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in shares of Ingersoll Rand by 0.7% during the third quarter. Principal Financial Group Inc. now owns 467,439 shares of the industrial products company’s stock valued at $45,884,000 after purchasing an additional 3,165 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Ingersoll Rand by 58.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,728 shares of the industrial products company’s stock valued at $564,000 after buying an additional 2,122 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $2,193,000. Franklin Resources Inc. raised its position in shares of Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Ingersoll Rand during the third quarter worth $562,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

IR opened at $91.79 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $100.63 and its two-hundred day moving average price is $95.93. The firm has a market capitalization of $36.99 billion, a P/E ratio of 44.78, a price-to-earnings-growth ratio of 3.86 and a beta of 1.42. Ingersoll Rand has a 12-month low of $74.01 and a 12-month high of $106.03.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 3.90%.

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.