Ingersoll Rand (NYSE:IR) Price Target Cut to $100.00 by Analysts at Wells Fargo & Company

Ingersoll Rand (NYSE:IR) had its target price reduced by Wells Fargo & Company from $102.00 to $100.00 in a research report released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company a buy rating in a research report on Thursday, July 18th. StockNews.com lowered Ingersoll Rand from a buy rating to a hold rating in a report on Saturday, May 4th. Barclays cut their target price on Ingersoll Rand from $106.00 to $101.00 and set an overweight rating on the stock in a report on Friday. Jefferies Financial Group began coverage on Ingersoll Rand in a report on Friday, June 21st. They set a buy rating and a $110.00 target price on the stock. Finally, Robert W. Baird raised their target price on Ingersoll Rand from $109.00 to $115.00 and gave the company an outperform rating in a report on Friday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of Moderate Buy and an average price target of $98.08.

Ingersoll Rand Price Performance

IR opened at $87.42 on Friday. The stock has a market cap of $35.27 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 2.68 and a beta of 1.45. Ingersoll Rand has a 1 year low of $59.20 and a 1 year high of $101.30. The company has a current ratio of 2.18, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $93.62 and a 200 day moving average price of $90.86.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Analysts forecast that Ingersoll Rand will post 3.17 EPS for the current fiscal year.

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

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is presently 3.98%.

Insider Activity at Ingersoll Rand

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

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors have recently added to or reduced their stakes in IR. Ridgewood Investments LLC acquired a new stake in Ingersoll Rand during the second quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in Ingersoll Rand during the fourth quarter valued at approximately $27,000. Kapitalo Investimentos Ltda acquired a new stake in Ingersoll Rand during the fourth quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the 1st quarter worth approximately $28,000. Finally, Riverview Trust Co acquired a new position in shares of Ingersoll Rand in the 1st quarter worth approximately $29,000. 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.