Ingersoll Rand (NYSE:IR) Sets New 12-Month High – Time to Buy?

Ingersoll Rand Inc. (NYSE:IR) hit a new 52-week high during trading on Wednesday . The stock traded as high as $102.98 and last traded at $102.83, with a volume of 82809 shares. The stock had previously closed at $97.70.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Cfra increased their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $101.67.

Ingersoll Rand Price Performance

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 company has a market cap of $41.51 billion, a PE ratio of 47.66, a P/E/G ratio of 2.57 and a beta of 1.42. The firm has a 50 day moving average of $95.54 and a two-hundred day moving average of $93.61.

Ingersoll Rand Announces Dividend

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

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,510 shares of company stock valued at $7,108,005. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in Ingersoll Rand by 20.4% in the first quarter. Janney Montgomery Scott LLC now owns 46,261 shares of the industrial products company’s stock worth $4,393,000 after acquiring an additional 7,824 shares during the period. Signaturefd LLC increased its position in Ingersoll Rand by 4.0% in the first quarter. Signaturefd LLC now owns 10,897 shares of the industrial products company’s stock worth $1,035,000 after buying an additional 424 shares in the last quarter. Essex LLC bought a new position in shares of Ingersoll Rand in the first quarter worth about $202,000. Geneos Wealth Management Inc. lifted its position in shares of Ingersoll Rand by 28.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after buying an additional 141 shares in the last quarter. Finally, Oxbow Advisors LLC bought a new position in shares of Ingersoll Rand during the 1st quarter valued at approximately $218,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.