Barclays Raises Ingersoll Rand (NYSE:IR) Price Target to $105.00

Ingersoll Rand (NYSE:IR) had its target price lifted by Barclays from $101.00 to $105.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

IR has been the topic of a number of other reports. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a buy rating and a $110.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Ingersoll Rand from $102.00 to $100.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an equal weight rating and a $97.00 target price on the stock. Finally, Cfra restated a hold rating and issued a $85.00 target price on shares of Ingersoll Rand in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $101.17.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $101.14 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. Ingersoll Rand has a 1-year low of $59.20 and a 1-year high of $101.30. The firm has a market capitalization of $40.80 billion, a P/E ratio of 50.32, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42. The company’s 50-day moving average is $92.42 and its 200 day moving average is $92.77.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Research analysts forecast that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,510 shares of company stock valued at $7,108,005. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC grew its position in Ingersoll Rand by 4.5% during the third quarter. Park Avenue Securities LLC now owns 4,152 shares of the industrial products company’s stock valued at $408,000 after buying an additional 180 shares during the period. SG Americas Securities LLC grew its position in Ingersoll Rand by 65.5% during the third quarter. SG Americas Securities LLC now owns 94,426 shares of the industrial products company’s stock valued at $9,269,000 after buying an additional 37,387 shares during the period. Czech National Bank grew its position in Ingersoll Rand by 7.0% during the third quarter. Czech National Bank now owns 82,194 shares of the industrial products company’s stock valued at $8,068,000 after buying an additional 5,357 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Ingersoll Rand by 11.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,548 shares of the industrial products company’s stock valued at $152,000 after buying an additional 153 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its position in Ingersoll Rand by 19.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,620 shares of the industrial products company’s stock valued at $238,000 after buying an additional 420 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

About Ingersoll Rand

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.