Ingersoll Rand (NYSE:IR) Given New $91.00 Price Target at Evercore ISI

Ingersoll Rand (NYSE:IR) had its target price trimmed by Evercore ISI from $100.00 to $91.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an in-line rating on the industrial products company’s stock.

IR has been the subject of a number of other research reports. Stifel Nicolaus reduced their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Citigroup reduced their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Finally, Barclays reduced their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Stock Down 3.6 %

Shares of IR opened at $83.66 on Wednesday. Ingersoll Rand has a 52 week low of $83.26 and a 52 week high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $33.72 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 3.47 and a beta of 1.43. The stock’s 50-day moving average price is $91.15 and its 200-day moving average price is $94.93.

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

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date of this dividend 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

A number of large investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC grew its position in shares of Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 109 shares in the last quarter. Kanawha Capital Management LLC grew its position in Ingersoll Rand by 2.4% in the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after acquiring an additional 119 shares during the period. UMB Bank n.a. grew its position in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares during the period. RDA Financial Network grew its position in Ingersoll Rand by 3.1% in the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 128 shares during the period. Finally, FSM Wealth Advisors LLC grew its position in Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 134 shares during the period. 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.