Ingersoll Rand (NYSE:IR) Downgraded to Hold at StockNews.com

Ingersoll Rand (NYSE:IR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued research reports about the company. Barclays boosted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Cfra increased their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. UBS Group increased their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Stock Performance

IR stock opened at $86.72 on Friday. The firm has a 50 day simple moving average of $91.96 and a 200 day simple moving average of $80.81. Ingersoll Rand has a 52 week low of $56.49 and a 52 week high of $96.17. The stock has a market cap of $34.99 billion, a P/E ratio of 43.14, a P/E/G ratio of 3.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.66%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Research analysts anticipate that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew R. Schiesl sold 10,421 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the sale, the insider now owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,011 shares of company stock valued at $26,374,789. Insiders own 0.83% of the company’s stock.

Institutional Trading of Ingersoll Rand

Institutional investors and hedge funds have recently modified their holdings of the company. Greenleaf Trust grew its stake in shares of Ingersoll Rand by 2.0% in the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares during the period. Spire Wealth Management raised its stake in Ingersoll Rand by 8.5% during the first quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 126 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 141 shares during the period. Stablepoint Partners LLC boosted its stake in shares of Ingersoll Rand by 2.4% in the 1st quarter. Stablepoint Partners LLC now owns 7,323 shares of the industrial products company’s stock valued at $695,000 after purchasing an additional 169 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Ingersoll Rand by 17.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

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.