Stifel Nicolaus Boosts Ingersoll Rand (NYSE:IR) Price Target to $112.00

Ingersoll Rand (NYSE:IR) had its price objective raised by Stifel Nicolaus from $101.00 to $112.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other analysts also recently weighed in on the company. Evercore ISI dropped their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company increased their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays raised their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Ingersoll Rand Stock Down 0.6 %

Shares of Ingersoll Rand stock opened at $100.40 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The company has a market cap of $40.50 billion, a P/E ratio of 49.95, a PEG ratio of 2.72 and a beta of 1.42. The firm’s 50 day moving average price is $94.09 and its 200-day moving average price is $93.19. Ingersoll Rand has a 52-week low of $59.20 and a 52-week high of $102.74.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, sell-side analysts predict that Ingersoll Rand will post 3.22 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

Insider Activity

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s 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 completion of the sale, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now directly owns 6,559 shares in the company, valued at approximately $599,623.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock worth $7,108,005 over the last 90 days. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingersoll Rand

A number of large investors have recently made changes to their positions in the stock. Capital International Investors raised its stake in Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after purchasing an additional 3,535,543 shares during the period. Capital Research Global Investors increased its position in shares of Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after purchasing an additional 1,504,414 shares during the last quarter. Capital World Investors purchased a new stake in Ingersoll Rand in the 1st quarter valued at about $440,401,000. Finally, Dimensional Fund Advisors LP lifted its position in Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after buying an additional 224,463 shares during the last quarter. 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.