Ingersoll Rand Inc. (NYSE:IR) Receives $106.83 Consensus Price Target from Analysts

Shares of Ingersoll Rand Inc. (NYSE:IR) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $106.50.

A number of research firms have recently issued reports on IR. The Goldman Sachs Group increased their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. UBS Group started coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Cfra increased their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Robert W. Baird dropped their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Barclays reduced their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th.

Ingersoll Rand Price Performance

IR opened at $91.90 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 12-month low of $77.16 and a 12-month high of $106.03. The business’s fifty day simple moving average is $97.35 and its 200-day simple moving average is $95.72. The company has a market capitalization of $37.04 billion, a price-to-earnings ratio of 44.83, a PEG ratio of 3.17 and a beta of 1.44.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value 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. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of 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 valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. FMR LLC lifted its stake in Ingersoll Rand by 10.5% during the third 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 in the last quarter. State Street Corp lifted its stake in Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after acquiring an additional 112,824 shares in the last quarter. Franklin Resources Inc. boosted its holdings in 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 valued at $1,207,554,000 after acquiring an additional 278,710 shares during the period. Finally, Geode Capital Management LLC increased its stake in Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.