Ingersoll Rand (NYSE:IR) Reaches New 52-Week High at $79.83

Ingersoll Rand Inc. (NYSE:IRGet Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $79.83 and last traded at $79.52, with a volume of 128281 shares traded. The stock had previously closed at $79.21.

Analysts Set New Price Targets

Several research firms have recently issued reports on IR. Stifel Nicolaus raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Tuesday, October 24th. Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $73.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. StockNews.com initiated coverage on shares of Ingersoll Rand in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Citigroup increased their target price on shares of Ingersoll Rand from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Cfra increased their target price on shares of Ingersoll Rand from $66.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.50.

Check Out Our Latest Report on IR

Ingersoll Rand Stock Performance

The stock has a 50-day moving average price of $74.89 and a 200 day moving average price of $68.94. The firm has a market capitalization of $32.10 billion, a price-to-earnings ratio of 42.41, a P/E/G ratio of 1.87 and a beta of 1.47. The company has a quick ratio of 1.60, a current ratio of 2.26 and a debt-to-equity ratio of 0.28.

Ingersoll Rand (NYSE:IRGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Ingersoll Rand had a return on equity of 11.82% and a net margin of 11.47%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.69 billion. On average, analysts forecast that Ingersoll Rand Inc. will post 2.77 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Monday, November 20th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Friday, November 17th. Ingersoll Rand’s payout ratio is 4.28%.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $71.89, for a total transaction of $934,570.00. Following the transaction, the insider now directly owns 45,263 shares of the company’s stock, valued at approximately $3,253,957.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 13,000 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $71.89, for a total transaction of $934,570.00. Following the sale, the insider now directly owns 45,263 shares in the company, valued at approximately $3,253,957.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 9,532 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.22, for a total value of $631,209.04. Following the completion of the sale, the insider now owns 58,263 shares of the company’s stock, valued at $3,858,175.86. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand during the 4th quarter worth $27,000. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand in the third quarter valued at $25,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Ingersoll Rand in the third quarter valued at $28,000. Pacifica Partners Inc. acquired a new stake in shares of Ingersoll Rand in the third quarter valued at $28,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Ingersoll Rand by 1,566.7% in the second quarter. Lazard Asset Management LLC now owns 450 shares of the industrial products company’s stock valued at $29,000 after buying an additional 423 shares during the period. Institutional investors and hedge funds own 94.54% of the company’s stock.

Ingersoll Rand Company Profile

(Get Free Report)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

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