Ingersoll Rand (NYSE:IR) Hits New 52-Week Low – What’s Next?

Ingersoll Rand Inc. (NYSE:IR)’s stock price hit a new 52-week low on Friday . The stock traded as low as $79.66 and last traded at $79.81, with a volume of 202780 shares. The stock had previously closed at $81.30.

Analysts Set New Price Targets

IR has been the subject of several research analyst reports. The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Robert W. Baird raised their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Stifel Nicolaus reduced their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Citigroup dropped their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Evercore ISI reduced their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Stock Performance

The company has a market cap of $32.11 billion, a PE ratio of 38.71, a P/E/G ratio of 3.50 and a beta of 1.48. The stock’s 50-day simple moving average is $86.94 and its 200 day simple moving average is $93.72. 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 data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s payout ratio is 3.88%.

Institutional Trading of Ingersoll Rand

Several hedge funds and other institutional investors have recently made changes to their positions in IR. Vanguard Group Inc. boosted its stake in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after acquiring an additional 446,591 shares in the last quarter. Capital International Investors boosted its position in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares in the last quarter. Capital World Investors grew its holdings in Ingersoll Rand by 1.0% in the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock valued at $1,817,238,000 after purchasing an additional 197,711 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after buying an additional 649,102 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after buying an additional 1,320,223 shares during the last quarter. Institutional investors and hedge funds 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.