Ingersoll Rand (NYSE:IR) Reaches New 1-Year Low – Here’s What Happened

Ingersoll Rand Inc. (NYSE:IR) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $81.07 and last traded at $81.28, with a volume of 89759 shares changing hands. The stock had previously closed at $82.60.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IR shares. Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Barclays dropped their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Finally, Robert W. Baird raised their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Stock Down 3.0 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The company has a market capitalization of $32.29 billion, a PE ratio of 38.89, a P/E/G ratio of 3.50 and a beta of 1.43. The business’s 50 day simple moving average is $89.84 and its 200 day simple moving average is $94.74.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s payout ratio is 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Ingersoll Rand in the third quarter valued at approximately $34,000. Murphy & Mullick Capital Management Corp purchased a new position in Ingersoll Rand in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the fourth quarter worth $38,000. Lee Danner & Bass Inc. purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth $42,000. Finally, Ancora Advisors LLC raised its stake in shares of Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 294 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

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.