Ingersoll Rand (NYSE:IR) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a research note published on Thursday.

A number of other research firms have also recently commented on IR. UBS Group increased their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a buy rating in a research report on Monday, January 29th. Wells Fargo & Company raised their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the stock an overweight rating in a research report on Tuesday, February 20th. Cfra upped their target price on Ingersoll Rand from $68.00 to $85.00 and gave the company a hold rating in a research report on Friday, February 16th. Stifel Nicolaus reissued a buy rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Finally, The Goldman Sachs Group upped their price objective on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a buy rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $92.73.

Ingersoll Rand Stock Up 1.6 %

Shares of NYSE IR opened at $93.50 on Thursday. The stock has a market capitalization of $37.72 billion, a PE ratio of 49.21, a price-to-earnings-growth ratio of 3.26 and a beta of 1.44. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Ingersoll Rand has a 12-month low of $54.54 and a 12-month high of $96.17. The stock’s fifty day simple moving average is $91.70 and its two-hundred day simple moving average is $79.86.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. As a group, analysts expect that Ingersoll Rand will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

Ingersoll Rand announced that its board has approved a stock repurchase program on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the sale, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors and hedge funds have recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in Ingersoll Rand in the third quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in Ingersoll Rand in the 4th quarter valued at $27,000. Quintet Private Bank Europe S.A. purchased a new stake in Ingersoll Rand in the 3rd quarter worth $28,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand during the fourth quarter worth $28,000. Finally, Riverview Trust Co purchased a new position in Ingersoll Rand during the first quarter valued at $29,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.