Ingersoll Rand (NYSE:IR) Stock Gets Price Target Cut from Robert W. Baird

Ingersoll Rand (NYSE:IR) had its target price reduced by Robert W. Baird from $109.00 to $107.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 target price (up from $93.00) on shares of Ingersoll Rand in a research report on Monday. Wall Street Zen downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Morgan Stanley set a $87.00 price target on shares of Ingersoll Rand in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, October 19th. Finally, Citigroup reiterated a “buy” rating on shares of Ingersoll Rand in a report on Monday, October 12th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Ingersoll Rand Trading Down 0.3%

Shares of IR stock opened at $84.34 on Monday. Ingersoll Rand has a 1 year low of $68.07 and a 1 year high of $100.96. The firm has a market capitalization of $32.39 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 3.59 and a beta of 1.15. The stock has a fifty day moving average of $76.56 and a two-hundred day moving average of $81.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.24 and a current ratio of 1.69.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. Ingersoll Rand had a return on equity of 13.47% and a net margin of 17.20%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts expect that Ingersoll Rand will post 3.41 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, November 12th. Ingersoll Rand’s payout ratio is currently 2.25%.

Institutional Trading of Ingersoll Rand

Several institutional investors have recently modified their holdings of IR. BlackRock Inc. purchased a new position in Ingersoll Rand in the 2nd quarter worth about $2,484,319,000. Jupiter Topco LLC acquired a new stake in Ingersoll Rand during the 2nd quarter worth about $547,628,000. Janus Henderson Group PLC raised its holdings in Ingersoll Rand by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 6,576,720 shares of the industrial products company’s stock worth $526,926,000 after buying an additional 146,450 shares during the period. Bank of New York Mellon Corp acquired a new stake in Ingersoll Rand during the 2nd quarter worth about $328,309,000. Finally, Amundi lifted its stake in Ingersoll Rand by 19.3% during the second quarter. Amundi now owns 3,282,920 shares of the industrial products company’s stock valued at $269,175,000 after buying an additional 531,095 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

About Ingersoll Rand

Ingersoll Rand Inc (NYSE:IR) is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.