Ingersoll Rand (NYSE:IR) Coverage Initiated at Morgan Stanley

Stock analysts at Morgan Stanley began coverage on shares of Ingersoll Rand (NYSE:IR) in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage set an “equal weight” rating and a $97.00 price target on the industrial products company’s stock. Morgan Stanley’s price objective points to a potential upside of 10.72% from the stock’s current price.

IR has been the topic of a number of other reports. Cfra reissued a “hold” rating and issued a $85.00 price target on shares of Ingersoll Rand in a research note on Friday, August 2nd. Barclays cut their price objective on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group assumed coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Stock Up 0.4 %

Shares of NYSE:IR opened at $87.61 on Friday. The stock’s 50-day moving average price is $92.65 and its two-hundred day moving average price is $92.15. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $101.30. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 2.58 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, research analysts forecast that Ingersoll Rand will post 3.21 EPS for the current year.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $28,000. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the 1st quarter worth approximately $28,000. Riverview Trust Co acquired a new position in shares of Ingersoll Rand in the 1st quarter worth approximately $29,000. Finally, Scarborough Advisors LLC acquired a new position in Ingersoll Rand during the 4th quarter valued at approximately $32,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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.