Barclays Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price objective trimmed by Barclays from $115.00 to $102.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

IR has been the subject of a number of other reports. The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Robert W. Baird boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Stifel Nicolaus decreased their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Citigroup decreased their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Trading Up 1.1 %

Shares of IR stock opened at $86.64 on Tuesday. Ingersoll Rand has a twelve month low of $83.72 and a twelve month high of $106.03. The company has a market capitalization of $34.92 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 3.45 and a beta of 1.43. The firm has a 50-day moving average price of $91.50 and a 200 day moving average price of $94.95. 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 announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (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 firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Research analysts forecast that Ingersoll Rand will post 3.3 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IR. Norges Bank purchased a new position in Ingersoll Rand in the fourth quarter valued at about $429,591,000. Capital International Investors boosted its stake in shares of 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 valued at $3,317,537,000 after buying an additional 1,606,363 shares during the last quarter. FMR LLC boosted its stake in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ingersoll Rand by 8.7% during the 3rd 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 last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Ingersoll Rand by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock valued at $1,110,593,000 after buying an additional 679,856 shares during the last quarter. 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.