Ingersoll Rand (NYSE:IR) Sets New 1-Year Low – Here’s What Happened

Ingersoll Rand Inc. (NYSE:IR) shares hit a new 52-week low on Friday . The company traded as low as $83.51 and last traded at $83.65, with a volume of 1174177 shares changing hands. The stock had previously closed at $86.77.

Analyst Upgrades and Downgrades

IR has been the subject of several research reports. Evercore ISI cut their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Barclays cut their price objective on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Stifel Nicolaus cut their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

Ingersoll Rand Trading Down 3.6 %

The business’s 50-day moving average is $91.50 and its two-hundred day moving average is $94.95. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $33.72 billion, a PE ratio of 40.62, a PEG ratio of 3.47 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, analysts predict that Ingersoll Rand Inc. will post 3.31 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank raised its stake in Ingersoll Rand by 0.6% during the fourth quarter. Toronto Dominion Bank now owns 136,862 shares of the industrial products company’s stock worth $12,380,000 after acquiring an additional 866 shares during the period. Vise Technologies Inc. raised its stake in Ingersoll Rand by 77.7% during the fourth quarter. Vise Technologies Inc. now owns 4,772 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 2,086 shares during the period. Voloridge Investment Management LLC acquired a new stake in Ingersoll Rand during the fourth quarter worth about $7,764,000. Vident Advisory LLC raised its stake in Ingersoll Rand by 10.0% during the fourth quarter. Vident Advisory LLC now owns 9,999 shares of the industrial products company’s stock worth $905,000 after acquiring an additional 910 shares during the period. Finally, Squarepoint Ops LLC grew its position in Ingersoll Rand by 152.8% in the 4th quarter. Squarepoint Ops LLC now owns 259,215 shares of the industrial products company’s stock worth $23,449,000 after purchasing an additional 156,665 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.