Analysts Set Ingersoll Rand Inc. (NYSE:IR) Target Price at $103.83

Shares of Ingersoll Rand Inc. (NYSE:IR) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $103.83.

A number of equities research analysts have recently weighed in on the stock. UBS Group began coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Robert W. Baird reduced their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Evercore ISI dropped their target price 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. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price target for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th.

Ingersoll Rand Trading Down 0.6 %

IR stock opened at $104.72 on Friday. Ingersoll Rand has a 52 week low of $69.46 and a 52 week high of $106.03. The company has a market capitalization of $42.20 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42. The company’s 50-day simple moving average is $99.70 and its 200 day simple moving average is $94.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Ingersoll Rand in the third quarter valued at about $562,000. Sanctuary Advisors LLC raised its stake in Ingersoll Rand by 100.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 22,223 shares of the industrial products company’s stock valued at $2,311,000 after purchasing an additional 11,124 shares during the period. Pine Valley Investments Ltd Liability Co lifted its holdings in Ingersoll Rand by 11.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 3,043 shares of the industrial products company’s stock worth $299,000 after purchasing an additional 309 shares in the last quarter. Virtu Financial LLC bought a new position in Ingersoll Rand in the 3rd quarter worth approximately $864,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Ingersoll Rand by 28.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 221,919 shares of the industrial products company’s stock valued at $21,783,000 after buying an additional 48,975 shares in the last quarter. 95.27% of the stock is 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.