Robert W. Baird Forecasts Strong Price Appreciation for Ingersoll Rand (NYSE:IR) Stock

Ingersoll Rand (NYSE:IR) had its target price hoisted by Robert W. Baird from $105.00 to $111.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on IR. Citigroup cut their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. UBS Group initiated coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Barclays reduced their price objective on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Stock Up 1.1 %

Ingersoll Rand stock opened at $86.64 on Tuesday. Ingersoll Rand has a fifty-two week low of $83.72 and a fifty-two week high of $106.03. The stock has a market cap of $34.92 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 3.45 and a beta of 1.43. The firm’s 50-day simple moving average is $91.50 and its 200 day simple moving average is $94.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Research analysts predict that Ingersoll Rand will post 3.3 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in shares of Ingersoll Rand by 66.2% in the third quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock valued at $10,794,000 after acquiring an additional 43,801 shares during the period. Blue Trust Inc. boosted its holdings in Ingersoll Rand by 167.5% in the 3rd quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 1,709 shares during the period. Raymond James & Associates boosted its holdings in Ingersoll Rand by 51.1% in the 3rd quarter. Raymond James & Associates now owns 353,809 shares of the industrial products company’s stock valued at $34,730,000 after purchasing an additional 119,656 shares during the period. OLD National Bancorp IN boosted its holdings in Ingersoll Rand by 5.4% in the 3rd quarter. OLD National Bancorp IN now owns 3,118 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 159 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Ingersoll Rand by 11.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,063 shares of the industrial products company’s stock valued at $31,123,000 after purchasing an additional 32,961 shares during the period. 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.