Ingersoll Rand Inc. (NYSE:IR) Receives $98.17 Average PT from Analysts

Shares of Ingersoll Rand Inc. (NYSE:IR) have received an average rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $98.17.

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Wells Fargo & Company increased their target price on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Citigroup boosted their price target on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group assumed 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 for the company.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly 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. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ingersoll Rand by 24.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after acquiring an additional 96,982 shares during the period. Nomura Holdings Inc. boosted its position in shares of Ingersoll Rand by 3,010.2% in the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock valued at $16,340,000 after acquiring an additional 204,481 shares during the period. Varenne Capital Partners bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $1,693,000. Illinois Municipal Retirement Fund boosted its position in shares of Ingersoll Rand by 297.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock valued at $5,828,000 after acquiring an additional 56,394 shares during the period. Finally, Azzad Asset Management Inc. ADV bought a new stake in shares of Ingersoll Rand in the first quarter valued at approximately $1,221,000. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

IR stock opened at $98.70 on Monday. The stock’s 50 day moving average is $93.62 and its two-hundred day moving average is $90.22. Ingersoll Rand has a 52-week low of $59.20 and a 52-week high of $101.30. The company has a market capitalization of $39.82 billion, a PE ratio of 49.10, a P/E/G ratio of 2.81 and a beta of 1.45. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. Analysts predict that Ingersoll Rand will post 3.17 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s payout ratio is 3.98%.

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.