Ingersoll Rand (NYSE:IR) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Ingersoll Rand (NYSE:IRFree Report) in a research report report published on Friday, StockNewsAPI reports. The brokerage issued a buy rating and a $110.00 price objective on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Ingersoll Rand from a buy rating to a hold rating in a research report on Saturday, May 4th. Wells Fargo & Company reduced their target price on shares of Ingersoll Rand from $105.00 to $98.00 and set an overweight rating on the stock in a report on Monday, May 6th. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Barclays reduced their price objective on Ingersoll Rand from $105.00 to $104.00 and set an overweight rating on the stock in a research note on Monday, May 6th. Finally, BNP Paribas started coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a neutral rating and a $92.00 target price for the company. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $97.00.

View Our Latest Report on Ingersoll Rand

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $92.92 on Friday. The company’s fifty day moving average price is $91.92 and its 200-day moving average price is $87.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The firm has a market capitalization of $37.49 billion, a price-to-earnings ratio of 46.23, a PEG ratio of 3.01 and a beta of 1.43. Ingersoll Rand has a one year low of $59.20 and a one year high of $96.67.

Ingersoll Rand (NYSE:IRGet Free Report) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities research analysts anticipate that Ingersoll Rand will post 3.18 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has approved a stock buyback program on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.02 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the transaction, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now owns 30,846 shares in the company, valued at $2,843,075.82. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new position in Ingersoll Rand in the 4th quarter worth approximately $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand in the fourth quarter worth approximately $28,000. Headlands Technologies LLC bought a new stake in shares of Ingersoll Rand during the first quarter worth $28,000. Riverview Trust Co purchased a new stake in Ingersoll Rand in the 1st quarter valued at about $29,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $32,000. 95.27% of the stock is currently owned by institutional investors.

About Ingersoll Rand

(Get Free Report)

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.

Read More

Analyst Recommendations for Ingersoll Rand (NYSE:IR)

Receive News & Ratings for Ingersoll Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll Rand and related companies with MarketBeat.com's FREE daily email newsletter.