Ingersoll-Rand (NYSE:IR) had its target price increased by Argus to $105.00 in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the industrial products company’s stock. Argus’ target price indicates a potential upside of 16.76% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Citigroup boosted their price objective on shares of Ingersoll-Rand from $98.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Stifel Nicolaus boosted their target price on shares of Ingersoll-Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. UBS Group initiated coverage on shares of Ingersoll-Rand in a research report on Monday, January 22nd. They set a “buy” rating and a $105.00 target price on the stock. Zacks Investment Research raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Monday, January 22nd. Finally, Morgan Stanley downgraded shares of Ingersoll-Rand from an “overweight” rating to an “equal weight” rating and set a $98.00 target price on the stock. in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $102.92.
Ingersoll-Rand (IR) traded down $0.60 during midday trading on Tuesday, hitting $89.93. 172,917 shares of the company traded hands, compared to its average volume of 1,844,223. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 1.27. The company has a market cap of $23,797.42, a price-to-earnings ratio of 17.74, a PEG ratio of 2.01 and a beta of 1.33. Ingersoll-Rand has a 1 year low of $77.26 and a 1 year high of $97.67.
In other news, Chairman Michael W. Lamach sold 210,508 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $88.28, for a total value of $18,583,646.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Calton & Associates Inc. purchased a new stake in shares of Ingersoll-Rand in the 4th quarter valued at $112,000. Advisory Services Network LLC boosted its holdings in shares of Ingersoll-Rand by 19.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,304 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 213 shares during the last quarter. Resources Investment Advisors Inc. boosted its holdings in shares of Ingersoll-Rand by 218.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 929 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Ingersoll-Rand in the 3rd quarter valued at $152,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Ingersoll-Rand by 185.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,278 shares during the last quarter. 82.37% of the stock is currently owned by institutional investors and hedge funds.
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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.
