Analysts Set Ingersoll Rand Inc. (NYSE:IR) Target Price at $97.00

Shares of Ingersoll Rand Inc. (NYSE:IR) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $97.00.

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their price target on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Robert W. Baird increased their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Citigroup raised their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays lowered their target price on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th.

Ingersoll Rand Price Performance

Shares of IR opened at $90.84 on Thursday. The business’s fifty day moving average is $92.00 and its 200 day moving average is $87.60. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $96.67. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The stock has a market cap of $36.65 billion, a P/E ratio of 45.19, a P/E/G ratio of 2.93 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. Sell-side analysts anticipate that Ingersoll Rand will post 3.19 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has initiated a share buyback program on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were issued a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the sale, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IR. Nomura Holdings Inc. increased its holdings in shares of Ingersoll Rand by 3,010.2% in the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after purchasing an additional 204,481 shares during the period. Varenne Capital Partners purchased a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $1,693,000. Illinois Municipal Retirement Fund boosted its position in shares of Ingersoll Rand by 297.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock valued at $5,828,000 after acquiring an additional 56,394 shares during the last quarter. Arrow Financial Corp grew its holdings in shares of Ingersoll Rand by 59.7% during the fourth quarter. Arrow Financial Corp now owns 23,143 shares of the industrial products company’s stock worth $1,790,000 after purchasing an additional 8,649 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Ingersoll Rand by 3.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock worth $12,691,000 after purchasing an additional 6,042 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.