Brokerages Set Ingersoll Rand Inc. (NYSE:IR) Price Target at $98.91

Shares of Ingersoll Rand Inc. (NYSE:IR) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $98.91.

IR has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Barclays dropped their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Citigroup increased their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus cut their price target on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, April 14th.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 38,657 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the transaction, the insider now directly owns 193,186 shares of the company’s stock, valued at $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider now directly owns 10,986 shares of the company’s stock, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.

Institutional Trading of Ingersoll Rand

Institutional investors and hedge funds have recently modified their holdings of the business. Compass Wealth Management LLC boosted its position in Ingersoll Rand by 62.8% in the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates raised its stake in shares of Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 286 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand during the 4th quarter worth $36,000. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand in the 4th quarter worth about $38,000. Finally, Lee Danner & Bass Inc. bought a new position in Ingersoll Rand during the fourth quarter valued at about $42,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

IR stock opened at $80.44 on Thursday. The firm has a market cap of $32.45 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 3.50 and a beta of 1.44. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $78.27 and a 200-day moving average price of $85.33. Ingersoll Rand has a 1-year low of $65.61 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.