Ingersoll Rand Inc. (NYSE:IR) Receives $100.00 Consensus Price Target from Analysts

Ingersoll Rand Inc. (NYSE:IR) has received an average rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $100.00.

Several research analysts have recently issued reports on the company. Cfra reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. Barclays dropped their price target on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Jefferies Financial Group started coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 target price for the company. Finally, Robert W. Baird upped their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd.

Ingersoll Rand Price Performance

IR stock opened at $90.94 on Tuesday. Ingersoll Rand has a 1 year low of $59.20 and a 1 year high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The stock has a market cap of $36.69 billion, a price-to-earnings ratio of 45.24, a P/E/G ratio of 2.53 and a beta of 1.42. The company has a 50 day simple moving average of $92.40 and a 200 day simple moving average of $92.15.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Research analysts anticipate that Ingersoll Rand will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a $0.02 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.98%.

Insiders Place Their Bets

In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently modified their holdings of IR. Vanguard Group Inc. raised its holdings in Ingersoll Rand by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock worth $3,510,018,000 after buying an additional 176,734 shares during the last quarter. Capital International Investors raised its holdings in shares of Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after acquiring an additional 3,535,543 shares in the last quarter. Capital Research Global Investors boosted its stake in Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after purchasing an additional 1,504,414 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings in Ingersoll Rand by 8.0% during the 4th quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock worth $730,383,000 after purchasing an additional 696,610 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

About Ingersoll Rand

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.