Ingersoll Rand (NYSE:IR) Price Target Lowered to $115.00 at Citigroup

Ingersoll Rand (NYSE:IR) had its price objective reduced by Citigroup from $119.00 to $115.00 in a research report sent to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price target for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Robert W. Baird lowered their target price 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. Wells Fargo & Company reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Cfra increased their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Ingersoll Rand Price Performance

Shares of IR opened at $90.54 on Monday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a twelve month low of $76.64 and a twelve month high of $106.03. The stock has a market capitalization of $36.49 billion, a P/E ratio of 44.17, a P/E/G ratio of 3.84 and a beta of 1.44. The company has a 50 day moving average of $98.07 and a 200-day moving average of $95.74.

Ingersoll Rand Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Ingersoll Rand in the third quarter valued at about $864,000. Nordea Investment Management AB boosted its holdings in Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after purchasing an additional 7,784 shares during the period. GDS Wealth Management raised its position in shares of Ingersoll Rand by 6.4% in the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after buying an additional 10,081 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Ingersoll Rand by 28.2% in the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 22,401 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

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.