Ingersoll Rand (NYSE:IR) Price Target Increased to $110.00 by Analysts at Stifel Nicolaus

Ingersoll Rand (NYSE:IR) had its price objective upped by Stifel Nicolaus from $100.00 to $110.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research firms have also commented on IR. Citigroup boosted their price target on Ingersoll Rand from $105.00 to $112.00 and gave the stock a buy rating in a research report on Monday, April 8th. Jefferies Financial Group initiated coverage on Ingersoll Rand in a research report on Friday, June 21st. They issued a buy rating and a $110.00 target price on the stock. Robert W. Baird upped their target price on Ingersoll Rand from $107.00 to $109.00 and gave the company an outperform rating in a research report on Monday, May 6th. Wells Fargo & Company upped their target price on Ingersoll Rand from $98.00 to $102.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Finally, Barclays upped their target price on Ingersoll Rand from $104.00 to $106.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $98.17.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $96.86 on Thursday. The stock’s 50 day moving average price is $92.97 and its 200 day moving average price is $89.62. The firm has a market capitalization of $39.08 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 2.82 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. Ingersoll Rand has a one year low of $59.20 and a one year high of $100.65.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, sell-side analysts expect that Ingersoll Rand will post 3.19 EPS for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were issued a $0.02 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Insider Activity

In other news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Large investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $28,000. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand during the first quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of Ingersoll Rand during the first quarter valued at $29,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $32,000. 95.27% of the stock is 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.