Ingersoll Rand (NYSE:IR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ingersoll Rand (NYSE:IR) from a hold rating to a buy rating in a report published on Saturday morning.

A number of other brokerages have also issued reports on IR. Barclays decreased their price objective on Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Citigroup reduced their price target on Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Morgan Stanley decreased their price target on Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Robert W. Baird set a $103.00 price target on Ingersoll Rand in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Ingersoll Rand from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.86.

Ingersoll Rand Stock Up 0.3%

IR stock opened at $84.63 on Friday. The stock has a market cap of $33.12 billion, a PE ratio of 57.18, a price-to-earnings-growth ratio of 5.34 and a beta of 1.17. The firm’s 50-day simple moving average is $76.85 and its 200 day simple moving average is $82.65. Ingersoll Rand has a fifty-two week low of $68.07 and a fifty-two week high of $100.96. The company has a quick ratio of 1.59, a current ratio of 2.23 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. Ingersoll Rand’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict that Ingersoll Rand will post 3.37 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 13th. Ingersoll Rand’s payout ratio is presently 5.41%.

Hedge Funds Weigh In On Ingersoll Rand

Several hedge funds have recently made changes to their positions in IR. Capital International Investors lifted its stake in Ingersoll Rand by 4.7% during the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company’s stock valued at $4,147,878,000 after purchasing an additional 2,351,781 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Ingersoll Rand by 18.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock valued at $1,726,308,000 after buying an additional 3,423,501 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Ingersoll Rand by 1.2% in the fourth quarter. Capital Research Global Investors now owns 19,476,801 shares of the industrial products company’s stock valued at $1,543,017,000 after buying an additional 222,125 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Ingersoll Rand by 8.6% during the 4th quarter. Franklin Resources Inc. now owns 15,641,979 shares of the industrial products company’s stock valued at $1,239,158,000 after acquiring an additional 1,237,527 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Ingersoll Rand by 0.9% during the 4th quarter. State Street Corp now owns 15,458,763 shares of the industrial products company’s stock worth $1,224,643,000 after acquiring an additional 137,325 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.