Ingersoll Rand Inc. (NYSE:IR) Receives $98.00 Consensus Price Target from Brokerages

Shares of Ingersoll Rand Inc. (NYSE:IR) have earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $98.00.

A number of research analysts have recently commented on the company. Citigroup reissued a “buy” rating and set a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Morgan Stanley reduced their price objective on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Barclays lowered their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Finally, Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the company a “hold” rating in a report on Monday, August 4th.

Ingersoll Rand Price Performance

IR stock opened at $77.13 on Wednesday. Ingersoll Rand has a one year low of $65.61 and a one year high of $106.03. The firm has a 50-day moving average of $79.84 and a two-hundred day moving average of $80.22. The firm has a market capitalization of $30.65 billion, a PE ratio of 60.26, a P/E/G ratio of 4.61 and a beta of 1.43. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.Ingersoll Rand’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, analysts forecast that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio is presently 6.25%.

Hedge Funds Weigh In On Ingersoll Rand

Several institutional investors have recently added to or reduced their stakes in IR. Farther Finance Advisors LLC increased its holdings in shares of Ingersoll Rand by 29.3% during the first quarter. Farther Finance Advisors LLC now owns 2,945 shares of the industrial products company’s stock worth $237,000 after buying an additional 667 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Ingersoll Rand by 2.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 15,037 shares of the industrial products company’s stock worth $1,203,000 after acquiring an additional 412 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Ingersoll Rand by 19.7% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company’s stock valued at $946,000 after purchasing an additional 1,948 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Ingersoll Rand by 27.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,898 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 625 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new position in Ingersoll Rand in the first quarter worth $262,000. 95.27% of the stock is 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.