Ingersoll-Rand (NYSE:IR) had its target price upped by analysts at BMO Capital Markets to $115.00 in a report issued on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. BMO Capital Markets’ price objective points to a potential upside of 20.75% from the stock’s current price.
Several other research analysts also recently commented on the company. Stifel Nicolaus raised their price objective on Ingersoll-Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. UBS Group assumed coverage on Ingersoll-Rand in a research note on Monday, January 22nd. They issued a “buy” rating and a $105.00 price objective on the stock. KeyCorp reaffirmed a “hold” rating on shares of Ingersoll-Rand in a research note on Sunday, November 19th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Ingersoll-Rand in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Ingersoll-Rand has a consensus rating of “Hold” and a consensus price target of $102.73.
Ingersoll-Rand (IR) traded down $1.36 during mid-day trading on Friday, reaching $95.24. The company’s stock had a trading volume of 2,578,112 shares, compared to its average volume of 1,817,369. Ingersoll-Rand has a 52 week low of $77.26 and a 52 week high of $97.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 1.27. The company has a market capitalization of $23,645.00 and a P/E ratio of 18.91.
In related news, Chairman Michael W. Lamach sold 210,508 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total transaction of $18,583,646.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.
Several large investors have recently added to or reduced their stakes in IR. Quantbot Technologies LP purchased a new position in Ingersoll-Rand during the 3rd quarter valued at approximately $3,576,000. Prudential Financial Inc. grew its holdings in Ingersoll-Rand by 87.4% during the 3rd quarter. Prudential Financial Inc. now owns 1,429,458 shares of the industrial products company’s stock valued at $127,465,000 after buying an additional 666,550 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in Ingersoll-Rand by 1,451.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 407,780 shares of the industrial products company’s stock valued at $36,362,000 after buying an additional 381,497 shares in the last quarter. RKL Wealth Management LLC grew its holdings in Ingersoll-Rand by 20.9% during the 3rd quarter. RKL Wealth Management LLC now owns 11,966 shares of the industrial products company’s stock valued at $1,069,000 after buying an additional 2,072 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in Ingersoll-Rand by 5.5% during the 3rd quarter. State of Wisconsin Investment Board now owns 226,326 shares of the industrial products company’s stock valued at $20,181,000 after buying an additional 11,824 shares in the last quarter. Hedge funds and other institutional investors own 82.52% of the company’s stock.
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About Ingersoll-Rand
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
