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 note published on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on IR. Robert W. Baird raised their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an outperform rating in a report on Monday. UBS Group lifted their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a buy rating in a research report on Monday, January 29th. StockNews.com lowered shares of Ingersoll Rand from a buy rating to a hold rating in a report on Saturday, May 4th. The Goldman Sachs Group lifted their price objective on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Finally, BNP Paribas assumed coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a neutral rating and a $92.00 target price on the stock. 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 an average rating of Moderate Buy and an average price target of $95.82.

Ingersoll Rand Stock Up 1.0 %

IR stock opened at $90.75 on Monday. Ingersoll Rand has a twelve month low of $56.49 and a twelve month high of $96.17. The firm has a market capitalization of $36.61 billion, a PE ratio of 45.15, 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. The stock has a 50-day simple moving average of $91.90 and a two-hundred day simple moving average of $81.21.

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

Ingersoll Rand Dividend Announcement

The business also recently announced 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 is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand declared that its board has initiated a stock repurchase program on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction that occurred on 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 sale, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock valued at $26,374,789 in the last ninety days. Company insiders own 0.83% of the company’s stock.

Institutional Trading of Ingersoll Rand

Several large investors have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund raised its position in shares of Ingersoll Rand by 297.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock worth $5,828,000 after acquiring an additional 56,394 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Ingersoll Rand by 3.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock valued at $12,691,000 after buying an additional 6,042 shares during the period. Consilium Wealth Advisory LLC boosted its holdings in shares of Ingersoll Rand by 17.5% during the 4th quarter. Consilium Wealth Advisory LLC now owns 14,864 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 2,210 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of Ingersoll Rand by 8.6% in the 3rd quarter. Natixis Advisors L.P. now owns 136,629 shares of the industrial products company’s stock worth $8,706,000 after buying an additional 10,840 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Ingersoll Rand by 2.3% in the 3rd quarter. Hsbc Holdings PLC now owns 568,633 shares of the industrial products company’s stock worth $36,222,000 after acquiring an additional 13,036 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

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.