Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $93.00

Ingersoll Rand (NYSE:IR) had its price target trimmed by Barclays from $96.00 to $93.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

IR has been the topic of several other research reports. Evercore ISI lowered their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup dropped their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $79.38 on Wednesday. Ingersoll Rand has a 1-year low of $79.03 and a 1-year high of $106.03. The firm’s 50-day moving average price is $86.69 and its 200-day moving average price is $93.66. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $32.00 billion, a P/E ratio of 38.53, a P/E/G ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Equities research analysts anticipate that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ingersoll Rand by 46.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,615 shares of the industrial products company’s stock worth $1,865,000 after purchasing an additional 6,507 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $11,694,000. Dogwood Wealth Management LLC lifted its stake in shares of Ingersoll Rand by 10.7% in the 4th quarter. Dogwood Wealth Management LLC now owns 5,767 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 559 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Ingersoll Rand by 243.7% in the 4th quarter. Siemens Fonds Invest GmbH now owns 15,221 shares of the industrial products company’s stock valued at $1,377,000 after purchasing an additional 10,792 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new position in Ingersoll Rand during the fourth quarter worth about $122,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.