Ingersoll-Rand (IR) Given New $105.00 Price Target at Argus
Other research analysts have also recently issued research reports about the company. Citigroup raised their price target on Ingersoll-Rand from $98.00 to $103.00 and gave the stock a buy rating in a research report on Monday, October 9th. Stifel Nicolaus lifted their target price on Ingersoll-Rand from $101.00 to $112.00 and gave the company a buy rating in a research report on Thursday, February 1st. UBS Group initiated coverage on Ingersoll-Rand in a research report on Monday, January 22nd. They issued a buy rating and a $105.00 target price on the stock. Zacks Investment Research upgraded Ingersoll-Rand from a hold rating to a buy rating and set a $102.00 target price on the stock in a research report on Monday, January 22nd. Finally, Morgan Stanley cut Ingersoll-Rand from an overweight rating to an equal weight rating and set a $98.00 target price on the stock. in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Ingersoll-Rand presently has a consensus rating of Hold and a consensus price target of $102.92.
Ingersoll-Rand (NYSE:IR) opened at $87.60 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 0.95. Ingersoll-Rand has a 12-month low of $77.26 and a 12-month high of $97.67. The company has a market capitalization of $22,785.46, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.95 and a beta of 1.33.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, March 8th. Ingersoll-Rand’s dividend payout ratio is presently 35.50%.
In other news, Chairman Michael W. Lamach sold 210,508 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total transaction of $18,583,646.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.63% of the company’s stock.
Several large investors have recently added to or reduced their stakes in IR. Victory Capital Management Inc. grew its holdings in shares of Ingersoll-Rand by 43.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,502,804 shares of the industrial products company’s stock worth $223,225,000 after purchasing an additional 761,576 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Ingersoll-Rand by 2,075.3% during the second quarter. Janus Henderson Group PLC now owns 716,452 shares of the industrial products company’s stock worth $65,477,000 after purchasing an additional 683,516 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Ingersoll-Rand by 87.4% during the third quarter. Prudential Financial Inc. now owns 1,429,458 shares of the industrial products company’s stock worth $127,465,000 after purchasing an additional 666,550 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Ingersoll-Rand by 123.9% in the third quarter. Alyeska Investment Group L.P. now owns 1,171,328 shares of the industrial products company’s stock worth $104,447,000 after acquiring an additional 648,196 shares during the period. Finally, APG Asset Management N.V. lifted its stake in shares of Ingersoll-Rand by 83.0% in the third quarter. APG Asset Management N.V. now owns 1,418,049 shares of the industrial products company’s stock worth $126,447,000 after acquiring an additional 643,000 shares during the period. Institutional investors own 82.37% of the company’s stock.
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Ingersoll-Rand Company Profile
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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