StockNews.com Lowers Ingersoll Rand (NYSE:IR) to Hold

StockNews.com cut shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a report released on Saturday morning.

Several other equities analysts have also issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an overweight rating in a report on Tuesday, February 20th. Citigroup lifted their price target on Ingersoll Rand from $105.00 to $112.00 and gave the stock a buy rating in a research report on Monday, April 8th. Stifel Nicolaus reissued a buy rating and set a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Cfra upped their target price on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a hold rating in a research note on Friday, February 16th. Finally, BNP Paribas started coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They set a neutral rating and a $92.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $95.82.

Ingersoll Rand Stock Up 1.5 %

Shares of Ingersoll Rand stock opened at $89.85 on Friday. The company’s fifty day simple moving average is $91.90 and its two-hundred day simple moving average is $81.21. Ingersoll Rand has a 12-month low of $56.49 and a 12-month high of $96.17. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The company has a market cap of $36.26 billion, a P/E ratio of 44.70, a PEG ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Research analysts anticipate that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand declared that its board has authorized a share repurchase program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is presently 3.98%.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the sale, the insider now owns 48,904 shares in the company, valued at approximately $4,398,914.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IR. Greenleaf Trust lifted its stake in shares of Ingersoll Rand by 2.0% in the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares during the last quarter. Spire Wealth Management raised its stake in shares of Ingersoll Rand by 8.5% in the first quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 126 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Ingersoll Rand by 28.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 141 shares during the last quarter. Stablepoint Partners LLC raised its position in Ingersoll Rand by 2.4% in the 1st quarter. Stablepoint Partners LLC now owns 7,323 shares of the industrial products company’s stock worth $695,000 after purchasing an additional 169 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Ingersoll Rand by 17.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.