Ingersoll Rand (NYSE:IR) Price Target Raised to $120.00 at Barclays

Ingersoll Rand (NYSE:IR) had its price objective upped by research analysts at Barclays from $105.00 to $120.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would suggest a potential upside of 17.32% from the stock’s current price.

A number of other analysts also recently issued reports on IR. Cfra lifted their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Evercore ISI cut their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Morgan Stanley began coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.08.

Ingersoll Rand Trading Down 0.7 %

Shares of IR opened at $102.28 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand has a 1-year low of $71.54 and a 1-year high of $106.03. The company has a market capitalization of $41.22 billion, a P/E ratio of 49.89, a P/E/G ratio of 3.96 and a beta of 1.42. The firm’s 50 day simple moving average is $100.77 and its 200 day simple moving average is $95.46.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IR. Ridgewood Investments LLC purchased a new position in Ingersoll Rand in the second quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand during the 3rd quarter valued at $34,000. UMB Bank n.a. boosted its stake in Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares during the last quarter. Eastern Bank bought a new stake in shares of Ingersoll Rand in the 3rd quarter worth $42,000. Finally, Rothschild Investment LLC purchased a new position in shares of Ingersoll Rand in the second quarter worth $43,000. 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.