Ingersoll Rand (NYSE:IR) PT Raised to $109.00 at Robert W. Baird

Ingersoll Rand (NYSE:IR) had its price target increased by stock analysts at Robert W. Baird from $107.00 to $109.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price target indicates a potential upside of 25.69% from the stock’s previous close.

Several other research firms have also recently commented on IR. UBS Group raised their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their price objective on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company raised their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.09.

Ingersoll Rand Trading Down 6.6 %

Shares of IR opened at $86.72 on Monday. The firm has a fifty day simple moving average of $91.96 and a two-hundred day simple moving average of $80.81. Ingersoll Rand has a twelve month low of $56.49 and a twelve month high of $96.17. The stock has a market capitalization of $34.99 billion, a P/E ratio of 43.14, a PEG ratio of 3.02 and a beta of 1.40. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. On average, research analysts anticipate that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand announced that its board has initiated a stock buyback program on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the transaction, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in Ingersoll Rand during the fourth quarter valued at $301,890,000. Capital International Investors raised its position in Ingersoll Rand by 35.4% in the 4th quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock worth $947,143,000 after purchasing an additional 3,202,973 shares during the period. Capital Research Global Investors lifted its stake in Ingersoll Rand by 46.6% in the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares during the last quarter. UBS Group AG boosted its position in shares of Ingersoll Rand by 105.3% during the fourth quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after buying an additional 1,065,413 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Ingersoll Rand by 16.8% during the first quarter. Bank of New York Mellon Corp now owns 6,165,135 shares of the industrial products company’s stock valued at $585,380,000 after buying an additional 886,697 shares during the last quarter. Hedge funds and other 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.