Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $102.00

Ingersoll Rand (NYSE:IR) had its target price cut by Barclays from $115.00 to $102.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. UBS Group initiated coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday. The Goldman Sachs Group upped their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Trading Up 1.1 %

NYSE:IR opened at $86.64 on Tuesday. The stock has a 50-day simple moving average of $91.50 and a 200-day simple moving average of $94.95. The stock has a market cap of $34.92 billion, a P/E ratio of 42.06, a P/E/G ratio of 3.45 and a beta of 1.43. Ingersoll Rand has a 1 year low of $83.72 and a 1 year high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, analysts anticipate that Ingersoll Rand will post 3.3 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be issued 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 is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio is presently 3.88%.

Institutional Trading of Ingersoll Rand

Several hedge funds have recently made changes to their positions in IR. Creative Planning lifted its stake in shares of Ingersoll Rand by 66.2% in the 3rd quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock worth $10,794,000 after acquiring an additional 43,801 shares during the period. Blue Trust Inc. lifted its position in Ingersoll Rand by 167.5% in the third quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 1,709 shares during the period. Raymond James & Associates lifted its holdings in shares of Ingersoll Rand by 51.1% in the 3rd quarter. Raymond James & Associates now owns 353,809 shares of the industrial products company’s stock valued at $34,730,000 after buying an additional 119,656 shares during the period. OLD National Bancorp IN lifted its holdings in shares of Ingersoll Rand by 5.4% in the 3rd quarter. OLD National Bancorp IN now owns 3,118 shares of the industrial products company’s stock valued at $306,000 after buying an additional 159 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Ingersoll Rand by 11.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,063 shares of the industrial products company’s stock valued at $31,123,000 after buying an additional 32,961 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

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.