Ingersoll Rand (NYSE:IR) Sets New 1-Year Low – Here’s Why

Ingersoll Rand Inc. (NYSE:IR)’s stock price hit a new 52-week low on Friday . The stock traded as low as $83.51 and last traded at $83.65, with a volume of 1174177 shares traded. The stock had previously closed at $86.77.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IR. Stifel Nicolaus decreased their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Robert W. Baird boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Barclays decreased their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Trading Down 3.6 %

The company has a market cap of $33.72 billion, a P/E ratio of 40.61, a P/E/G ratio of 3.50 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $91.15 and a two-hundred day moving average price of $94.98.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is currently 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors have recently made changes to their positions in IR. Norges Bank acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $429,591,000. Capital International Investors grew its stake in shares of Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares during the period. FMR LLC grew its stake in shares of 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 during the period. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 8.7% during 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 purchasing an additional 1,462,538 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Ingersoll Rand by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after purchasing an additional 679,856 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

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.