Ingersoll Rand (NYSE:IR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Ingersoll Rand (NYSE:IR) from a hold rating to a buy rating in a research note published on Sunday morning.

A number of other research analysts have also recently weighed in on IR. BNP Paribas began coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They set a neutral rating and a $92.00 price objective on the stock. Citigroup boosted their price target on Ingersoll Rand from $79.00 to $86.00 and gave the stock a buy rating in a report on Monday, December 11th. Barclays boosted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Wells Fargo & Company boosted their price target on Ingersoll Rand from $83.00 to $100.00 and gave the stock an overweight rating in a report on Tuesday, February 20th. Finally, Cfra boosted their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a hold rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $89.67.

Ingersoll Rand Stock Down 0.5 %

IR stock opened at $93.50 on Friday. Ingersoll Rand has a twelve month low of $53.24 and a twelve month high of $96.17. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The stock has a market cap of $37.72 billion, a P/E ratio of 49.21, a PEG ratio of 3.30 and a beta of 1.44. The business’s 50-day moving average price is $90.05 and its 200-day moving average price is $77.36.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. On average, equities research analysts forecast that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its stake in shares of Ingersoll Rand by 3.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock worth $12,691,000 after purchasing an additional 6,042 shares during the last quarter. Consilium Wealth Advisory LLC lifted its stake in shares of Ingersoll Rand by 17.5% during the 4th quarter. Consilium Wealth Advisory LLC now owns 14,864 shares of the industrial products company’s stock worth $1,150,000 after purchasing an additional 2,210 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Ingersoll Rand by 8.6% during the 3rd quarter. Natixis Advisors L.P. now owns 136,629 shares of the industrial products company’s stock worth $8,706,000 after purchasing an additional 10,840 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Ingersoll Rand by 2.3% during the 3rd quarter. Hsbc Holdings PLC now owns 568,633 shares of the industrial products company’s stock worth $36,222,000 after purchasing an additional 13,036 shares during the last quarter. Finally, Strategic Advisors LLC purchased a new stake in shares of Ingersoll Rand during the 4th quarter worth $340,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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.