Ingersoll Rand (NYSE:IR) Price Target Cut to $85.00 by Analysts at Barclays

Ingersoll Rand (NYSE:IR) had its price objective reduced by Barclays from $93.00 to $85.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other research analysts also recently issued reports on IR. Robert W. Baird lifted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their target price 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. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.36.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $70.92 on Thursday. Ingersoll Rand has a 12 month low of $65.61 and a 12 month high of $106.03. The stock’s fifty day moving average price is $82.33 and its 200-day moving average price is $92.11. The firm has a market cap of $28.59 billion, a P/E ratio of 34.43, a P/E/G ratio of 3.50 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

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

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

A number of large investors have recently bought and sold shares of IR. Vanguard Group Inc. lifted its stake in Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after acquiring an additional 446,591 shares during the period. Capital International Investors grew its position in Ingersoll Rand by 4.6% during the 4th 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. Capital World Investors raised its stake in shares of Ingersoll Rand by 1.0% during the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock valued at $1,817,238,000 after buying an additional 197,711 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ingersoll Rand by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock worth $1,707,729,000 after buying an additional 649,102 shares during the last quarter. Finally, FMR LLC grew its holdings in Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after acquiring an additional 1,320,223 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.