Ingersoll Rand (NYSE:IR) Upgraded to “Hold” by Wolfe Research

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

Several other research analysts have also commented on the stock. Evercore ISI cut their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an in-line rating on the stock in a report on Monday, August 19th. Cfra restated a hold rating and set a $85.00 target price on shares of Ingersoll Rand in a report on Friday, August 2nd. Robert W. Baird increased their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an outperform rating in a report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $102.00 to $100.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on Ingersoll Rand in a research note on Friday, June 21st. They issued a buy rating and a $110.00 target price for the company. Six research 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, the stock has an average rating of Moderate Buy and an average target price of $100.00.

Ingersoll Rand Price Performance

IR opened at $97.47 on Friday. Ingersoll Rand has a 1 year low of $59.20 and a 1 year high of $101.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The company’s 50 day simple moving average is $92.44 and its 200 day simple moving average is $92.32. The stock has a market capitalization of $39.32 billion, a PE ratio of 48.49, a P/E/G ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion for 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%. As a group, sell-side analysts expect that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $46,948,000 after purchasing an additional 96,982 shares during the last quarter. Nomura Holdings Inc. lifted its stake in 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 valued at $16,340,000 after buying an additional 204,481 shares during the last quarter. Varenne Capital Partners acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $1,693,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Ingersoll Rand during the first quarter valued at $1,221,000. Finally, Swedbank AB grew its position in shares of Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after acquiring an additional 198,200 shares during the last quarter. 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.