Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $104.00

Ingersoll Rand (NYSE:IR) had its price target cut by Barclays from $105.00 to $104.00 in a research report released on Monday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on IR. Stifel Nicolaus reiterated a buy rating and issued a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Evercore ISI cut shares of Ingersoll Rand from an outperform rating to an in-line rating and boosted their target price for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. Citigroup lifted their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a buy rating in a research note on Monday, April 8th. Robert W. Baird upped their price objective on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an outperform rating in a research report on Monday. Finally, Wells Fargo & Company dropped their target price on Ingersoll Rand from $105.00 to $98.00 and set an overweight rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $95.82.

Ingersoll Rand Trading Down 0.3 %

Shares of Ingersoll Rand stock traded down $0.28 during trading hours on Monday, reaching $88.20. The stock had a trading volume of 115,415 shares, compared to its average volume of 2,550,277. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. Ingersoll Rand has a 1 year low of $56.49 and a 1 year high of $96.17. The firm has a market capitalization of $35.59 billion, a price-to-earnings ratio of 44.01, a P/E/G ratio of 3.02 and a beta of 1.40. The firm has a 50 day simple moving average of $91.91 and a two-hundred day simple moving average of $81.01.

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

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the sale, the insider now directly owns 48,904 shares in the company, valued at approximately $4,398,914.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the sale, the insider now owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,011 shares of company stock valued at $26,374,789. Company insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Ingersoll Rand in the 4th quarter valued at $301,890,000. Capital International Investors boosted its holdings in Ingersoll Rand by 35.4% during the fourth quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock valued at $947,143,000 after purchasing an additional 3,202,973 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Ingersoll Rand by 46.6% in the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after purchasing an additional 3,119,793 shares during the period. UBS Group AG lifted its position in shares of Ingersoll Rand by 105.3% during the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock worth $160,637,000 after buying an additional 1,065,413 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Ingersoll Rand by 16.8% in the 1st 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 in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.