Ingersoll Rand (NYSE:IR) Price Target Raised to $111.00

Ingersoll Rand (NYSE:IR) had its price target raised by Robert W. Baird from $105.00 to $111.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

IR has been the subject of several other reports. Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday. Citigroup decreased their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their price target 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. Barclays decreased their price target on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Stock Up 1.1 %

Shares of NYSE:IR opened at $86.64 on Tuesday. Ingersoll Rand has a 52-week low of $83.72 and a 52-week high of $106.03. The company has a fifty day moving average of $91.50 and a 200-day moving average of $94.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The company has a market capitalization of $34.92 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 3.45 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, equities analysts predict that Ingersoll Rand will post 3.3 EPS 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. Shareholders of record on Wednesday, March 5th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s payout ratio is 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

Large investors have recently bought and sold shares of the stock. Creative Planning grew its position in Ingersoll Rand by 66.2% in the 3rd quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock valued at $10,794,000 after purchasing an additional 43,801 shares during the period. Blue Trust Inc. grew its holdings in shares of Ingersoll Rand by 167.5% during the third quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock valued at $248,000 after buying an additional 1,709 shares during the last quarter. Raymond James & Associates boosted its stake in Ingersoll Rand by 51.1% during the 3rd quarter. Raymond James & Associates now owns 353,809 shares of the industrial products company’s stock valued at $34,730,000 after purchasing an additional 119,656 shares during the last quarter. OLD National Bancorp IN boosted its stake in Ingersoll Rand by 5.4% during the 3rd quarter. OLD National Bancorp IN now owns 3,118 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 159 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Ingersoll Rand by 11.6% during 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 purchasing an additional 32,961 shares during the last quarter. 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.