Ingersoll Rand (NYSE:IR) Research Coverage Started at UBS Group

UBS Group began coverage on shares of Ingersoll Rand (NYSE:IR) in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $124.00 price target on the industrial products company’s stock.

Several other research analysts have also recently issued reports on IR. Evercore ISI decreased their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Robert W. Baird decreased their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Stifel Nicolaus upped their price objective on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cfra lifted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.25.

Ingersoll Rand Trading Down 0.5 %

NYSE IR opened at $102.43 on Wednesday. Ingersoll Rand has a 12 month low of $69.46 and a 12 month high of $105.63. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $97.83 and its 200-day moving average price is $94.23. The stock has a market cap of $41.28 billion, a P/E ratio of 49.97, a P/E/G ratio of 3.96 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s payout ratio is 3.90%.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction 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 directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at $599,623.78. This represents a 53.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,660 shares of company stock valued at $1,348,834 in the last quarter. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in Ingersoll Rand in the 2nd quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of Ingersoll Rand during the first quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in Ingersoll Rand during the 3rd quarter valued at approximately $34,000. ESL Trust Services LLC purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $35,000. Finally, Eastern Bank bought a new position in Ingersoll Rand in the 3rd quarter worth approximately $42,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.