Brokerages Set Ingersoll Rand Inc. (NYSE:IR) Target Price at $102.17

Shares of Ingersoll Rand Inc. (NYSE:IR) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $102.17.

IR has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Cfra raised their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Morgan Stanley began coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Finally, Evercore ISI lowered their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th.

Insider Transactions at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,543,473.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock valued at $7,108,005 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ingersoll Rand by 24.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after acquiring an additional 96,982 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new position in Ingersoll Rand in the 1st quarter valued at $1,221,000. Swedbank AB grew its position in Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after acquiring an additional 198,200 shares during the last quarter. Inspire Investing LLC bought a new position in Ingersoll Rand in the 1st quarter valued at $889,000. Finally, Empowered Funds LLC grew its position in shares of Ingersoll Rand by 1,077.0% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the industrial products company’s stock worth $4,698,000 after buying an additional 45,279 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 2.1 %

Shares of NYSE IR opened at $93.97 on Wednesday. The firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 2.66 and a beta of 1.42. The business has a 50-day moving average of $95.32 and a 200-day moving average of $93.46. 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 has a 12 month low of $62.12 and a 12 month high of $102.74.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Sell-side analysts expect that Ingersoll Rand will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.96%.

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.