Ingersoll Rand (NYSE:IR) Hits New 12-Month Low – What’s Next?

Ingersoll Rand Inc. (NYSE:IR) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $81.07 and last traded at $81.28, with a volume of 89759 shares changing hands. The stock had previously closed at $82.60.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Evercore ISI cut their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Citigroup reduced their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Barclays cut their price objective on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Price Performance

The firm has a market cap of $33.78 billion, a P/E ratio of 40.83, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. The business has a 50-day simple moving average of $89.46 and a 200 day simple moving average of $94.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid 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 payout ratio is currently 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dogwood Wealth Management LLC increased its stake in Ingersoll Rand by 10.7% in the 4th quarter. Dogwood Wealth Management LLC now owns 5,767 shares of the industrial products company’s stock worth $522,000 after buying an additional 559 shares during the period. Siemens Fonds Invest GmbH raised its stake in shares of Ingersoll Rand by 243.7% during the fourth quarter. Siemens Fonds Invest GmbH now owns 15,221 shares of the industrial products company’s stock valued at $1,377,000 after acquiring an additional 10,792 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $122,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth approximately $28,321,000. Finally, Azzad Asset Management Inc. ADV boosted its stake in shares of Ingersoll Rand by 1.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 13,342 shares of the industrial products company’s stock valued at $1,207,000 after purchasing an additional 169 shares in the last quarter. 95.27% of the stock is owned by 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.