Ingersoll Rand (NYSE:IR) Given New $119.00 Price Target at Citigroup

Ingersoll Rand (NYSE:IR) had its target price hoisted by analysts at Citigroup from $112.00 to $119.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective indicates a potential upside of 15.94% from the stock’s current price.

Several other analysts also recently issued reports on IR. Evercore ISI decreased their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Cfra upped their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Barclays lifted their price objective on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. Finally, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.67.

Ingersoll Rand Stock Performance

IR traded up $0.36 on Monday, reaching $102.64. The company had a trading volume of 1,030,799 shares, compared to its average volume of 2,481,216. The company’s fifty day moving average is $100.86 and its 200 day moving average is $95.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a market cap of $41.36 billion, a P/E ratio of 50.07, a P/E/G ratio of 3.88 and a beta of 1.42. Ingersoll Rand has a fifty-two week low of $73.38 and a fifty-two week high of $106.03.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new stake in shares of Ingersoll Rand in the third quarter valued at about $2,193,000. Franklin Resources Inc. lifted its position in shares of Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Ingersoll Rand in the third quarter worth $562,000. Sanctuary Advisors LLC grew its position in shares of Ingersoll Rand by 100.2% in the third quarter. Sanctuary Advisors LLC now owns 22,223 shares of the industrial products company’s stock valued at $2,311,000 after purchasing an additional 11,124 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of Ingersoll Rand by 11.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 3,043 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 309 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.