Ingersoll Rand Inc. (NYSE:IR) Receives $106.83 Consensus Price Target from Analysts

Ingersoll Rand Inc. (NYSE:IR) has received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $106.50.

IR has been the subject of several analyst reports. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Cfra raised 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. Citigroup lowered their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday. Finally, Barclays dropped their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. FMR LLC raised its stake in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares in the last quarter. State Street Corp raised its stake in shares of Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after buying an additional 112,824 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after buying an additional 278,710 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Ingersoll Rand by 0.6% in the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after buying an additional 54,952 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $90.54 on Monday. The stock has a market cap of $36.49 billion, a P/E ratio of 44.17, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. The company has a fifty day simple moving average of $98.07 and a 200-day simple moving average of $95.74. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 12-month low of $76.64 and a 12-month high of $106.03.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is 3.90%.

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.