Wells Fargo & Company Cuts Ingersoll Rand (NYSE:IR) Price Target to $105.00

Ingersoll Rand (NYSE:IR) had its price objective cut by Wells Fargo & Company from $115.00 to $105.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on IR. Barclays boosted their price target on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Cfra increased their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Citigroup lifted their price target on Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Stifel Nicolaus downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.83.

Ingersoll Rand Stock Performance

Shares of IR opened at $89.19 on Tuesday. Ingersoll Rand has a 12-month low of $74.58 and a 12-month high of $106.03. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market cap of $35.94 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. The stock has a 50-day moving average price of $98.50 and a 200-day moving average price of $95.73.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s payout ratio is 3.90%.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is currently owned by company insiders.

Institutional Trading of Ingersoll Rand

Several large investors have recently added to or reduced their stakes in IR. FMR LLC lifted its position in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after buying an additional 1,462,538 shares during the period. International Assets Investment Management LLC boosted its position in Ingersoll Rand by 9,681.5% during the 3rd quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock valued at $353,720,000 after acquiring an additional 356,665 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after acquiring an additional 271,381 shares in the last quarter. Institutional investors 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.