Ingersoll-Rand’s (IR) “Buy” Rating Reaffirmed at Cowen
Cowen reaffirmed their buy rating on shares of Ingersoll-Rand (NYSE:IR) in a report released on Monday morning. The firm currently has a $115.00 price objective on the industrial products company’s stock.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Ingersoll-Rand from a buy rating to a hold rating in a research report on Wednesday, June 27th. Wolfe Research started coverage on Ingersoll-Rand in a research note on Wednesday, June 27th. They set an outperform rating for the company. Barclays upped their target price on Ingersoll-Rand from $115.00 to $117.00 and gave the stock an overweight rating in a research note on Thursday, August 9th. Finally, Bank of America upped their target price on Ingersoll-Rand from $96.00 to $105.00 and gave the stock a neutral rating in a research note on Monday, July 30th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Ingersoll-Rand presently has an average rating of Buy and a consensus target price of $109.55.
Ingersoll-Rand stock opened at $103.26 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 1.30. Ingersoll-Rand has a 12 month low of $79.63 and a 12 month high of $103.51. The company has a market capitalization of $25.03 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.59 and a beta of 1.33.
In related news, SVP Paul A. Camuti sold 1,800 shares of the stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $95.00, for a total value of $171,000.00. Following the completion of the transaction, the senior vice president now directly owns 59,290 shares of the company’s stock, valued at approximately $5,632,550. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jared L. Cohon sold 2,663 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.30, for a total value of $259,109.90. Following the completion of the transaction, the director now directly owns 24,153 shares of the company’s stock, valued at $2,350,086.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,561 shares of company stock valued at $2,563,616. Corporate insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of IR. Flagship Harbor Advisors LLC acquired a new stake in shares of Ingersoll-Rand in the 2nd quarter worth $106,000. Fort L.P. acquired a new stake in shares of Ingersoll-Rand in the 2nd quarter worth $121,000. Synovus Financial Corp acquired a new stake in shares of Ingersoll-Rand in the 1st quarter worth $118,000. Smithfield Trust Co. increased its stake in shares of Ingersoll-Rand by 374.5% in the 2nd quarter. Smithfield Trust Co. now owns 1,376 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 1,086 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Ingersoll-Rand by 653.3% in the 2nd quarter. CWM LLC now owns 1,499 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 1,300 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
Ingersoll-Rand Company Profile
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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