Ingersoll Rand (NYSE:IR) Price Target Cut to $105.00 by Analysts at Wells Fargo & Company

Ingersoll Rand (NYSE:IR) had its price target decreased by Wells Fargo & Company from $115.00 to $105.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and decreased their price target for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Citigroup upped their price target on shares of Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group increased their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $107.25.

Ingersoll Rand Trading Down 2.5 %

Shares of NYSE:IR opened at $89.01 on Tuesday. The business’s 50 day simple moving average is $98.80 and its 200 day simple moving average is $95.83. Ingersoll Rand has a 1 year low of $74.01 and a 1 year high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company has a market capitalization of $35.87 billion, a P/E ratio of 43.42, a P/E/G ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after buying an additional 1,462,538 shares during the period. FMR LLC boosted its holdings in Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after acquiring an additional 1,538,056 shares during the last quarter. State Street Corp increased its position in Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after purchasing an additional 112,824 shares during the period. Franklin Resources Inc. lifted its position in shares of Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Ingersoll Rand by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after purchasing an additional 54,952 shares during the last quarter. 95.27% of the stock is owned by 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.