Ingersoll Rand (NYSE:IR) Price Target Cut to $115.00 by Analysts at Barclays

Ingersoll Rand (NYSE:IR) had its price objective decreased by Barclays from $120.00 to $115.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

A number of other research firms also recently commented on IR. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price target for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Citigroup upped their target price on shares of Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.83.

Ingersoll Rand Price Performance

Shares of IR stock opened at $89.19 on Wednesday. The firm has a market cap of $35.94 billion, a P/E ratio of 43.51, a P/E/G ratio of 3.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand has a 1-year low of $74.58 and a 1-year high of $106.03. The firm has a fifty day moving average of $98.64 and a two-hundred day moving average of $95.78.

Ingersoll Rand Announces Dividend

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

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’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 value of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Ingersoll Rand in the third quarter worth about $864,000. Nordea Investment Management AB grew its position in 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 purchasing an additional 271,381 shares during the period. Daiwa Securities Group Inc. grew its position in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after purchasing an additional 7,784 shares during the period. GDS Wealth Management boosted its stake in shares of Ingersoll Rand by 6.4% during the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after acquiring an additional 10,081 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Ingersoll Rand by 28.2% during the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 22,401 shares in the last quarter. 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.