Ingersoll Rand (NYSE:IR) Given New $115.00 Price Target at Robert W. Baird

Ingersoll Rand (NYSE:IR) had its target price raised by Robert W. Baird from $109.00 to $115.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other research analysts also recently issued reports on IR. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a buy rating and a $110.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a buy rating in a research report on Thursday, July 18th. StockNews.com downgraded shares of Ingersoll Rand from a buy rating to a hold rating in a research report on Saturday, May 4th. Finally, Citigroup upped their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a buy rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of Moderate Buy and a consensus target price of $98.08.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded down $3.81 on Friday, hitting $87.42. The company’s stock had a trading volume of 6,031,716 shares, compared to its average volume of 2,514,255. The firm has a market cap of $35.27 billion, a P/E ratio of 43.49, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45. The company has a quick ratio of 1.71, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $93.62 and a 200-day moving average price of $90.86. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.30.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. On average, equities analysts anticipate that Ingersoll Rand will post 3.17 earnings per share for the current year.

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

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of the firm’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 directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the 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 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 owned by company insiders.

Institutional Investors Weigh In On Ingersoll Rand

Several large investors have recently made changes to their positions in IR. Ridgewood Investments LLC acquired a new stake in shares of Ingersoll Rand in the 2nd quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $27,000. Kapitalo Investimentos Ltda acquired a new stake in Ingersoll Rand during the 4th quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in Ingersoll Rand during the 1st quarter valued at $28,000. Finally, Riverview Trust Co acquired a new stake in Ingersoll Rand during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

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.