Ingersoll Rand Inc. (NYSE:IR) Receives $97.00 Consensus Price Target from Analysts

Shares of Ingersoll Rand Inc. (NYSE:IR) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $97.00.

IR has been the subject of a number of analyst reports. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Barclays reduced their target price on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Citigroup lifted their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Finally, BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock.

Insider Activity

In related news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the transaction, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the transaction, the insider now owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IR. Vanguard Group Inc. boosted its holdings in shares of Ingersoll Rand by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after buying an additional 176,734 shares in the last quarter. Capital International Investors boosted its holdings in shares of Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after buying an additional 3,535,543 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after buying an additional 1,504,414 shares in the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of Ingersoll Rand by 8.0% in the 4th quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock valued at $730,383,000 after buying an additional 696,610 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 0.4 %

Shares of Ingersoll Rand stock opened at $91.01 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The stock’s 50 day simple moving average is $92.02 and its 200-day simple moving average is $87.91. The stock has a market cap of $36.72 billion, a P/E ratio of 45.28, a P/E/G ratio of 2.65 and a beta of 1.45. Ingersoll Rand has a 1-year low of $59.20 and a 1-year high of $96.67.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.70 billion. Analysts predict that Ingersoll Rand will post 3.19 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Ingersoll Rand announced that its board has initiated a share repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board 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.