Ingersoll Rand (NYSE:IR) Downgraded by StockNews.com to “Hold”

Ingersoll Rand (NYSE:IR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other research analysts have also weighed in on the stock. Citigroup raised their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus reissued a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Cfra lifted their price target on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. BNP Paribas assumed coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target for the company. Finally, Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Price Performance

Shares of IR stock opened at $93.50 on Thursday. The firm has a market cap of $37.72 billion, a P/E ratio of 49.21, a P/E/G ratio of 3.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. Ingersoll Rand has a 1-year low of $54.54 and a 1-year high of $96.17. The firm has a fifty day moving average of $91.70 and a two-hundred day moving average of $79.66.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, research analysts anticipate that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has approved a stock buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the transaction, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IR. Global Retirement Partners LLC increased its stake in shares of Ingersoll Rand by 11.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 191 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Ingersoll Rand by 4.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 15,214 shares of the industrial products company’s stock worth $969,000 after purchasing an additional 658 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth $308,000. Caprock Group LLC increased its stake in shares of Ingersoll Rand by 16.5% during the 3rd quarter. Caprock Group LLC now owns 8,068 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 1,140 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in shares of Ingersoll Rand by 39.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 921 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 260 shares during the last quarter. 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.