Ingersoll Rand (NYSE:IR) Lifted to “Hold” at Wolfe Research

Wolfe Research upgraded shares of Ingersoll Rand (NYSE:IR) to a hold rating in a research note published on Friday, Zacks.com reports.

IR has been the subject of a number of other research reports. Barclays decreased their target price on Ingersoll Rand from $106.00 to $101.00 and set an overweight rating for the company in a report on Friday, August 2nd. Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an equal weight rating and a $97.00 price objective on the stock. Cfra reiterated a hold rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a buy rating and a $110.00 target price for the company. Finally, Evercore ISI cut their price target on Ingersoll Rand from $93.00 to $88.00 and set an in-line rating on the stock in a research report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $100.00.

Ingersoll Rand Trading Up 0.7 %

Shares of Ingersoll Rand stock opened at $97.47 on Friday. The firm’s 50 day simple moving average is $92.44 and its two-hundred day simple moving average is $92.32. The firm has a market capitalization of $39.32 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 2.53 and a beta of 1.42. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $101.30. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Analysts predict that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insider Buying and Selling

In other news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Capital International Investors increased its holdings in shares of Ingersoll Rand by 113.7% in the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after purchasing an additional 13,919,775 shares during the last quarter. Capital World Investors acquired a new position in shares of Ingersoll Rand during the 1st quarter valued at about $440,401,000. JPMorgan Chase & Co. grew its holdings in shares of Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares during the period. Capital Research Global Investors increased its position in Ingersoll Rand by 46.6% during the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Ingersoll Rand by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,165,135 shares of the industrial products company’s stock valued at $585,380,000 after purchasing an additional 886,697 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.