Ingersoll Rand (NYSE:IR) Price Target Raised to $120.00

Ingersoll Rand (NYSE:IR) had its price objective raised by Barclays from $105.00 to $120.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird decreased their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Evercore ISI decreased their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Cfra increased their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.08.

Ingersoll Rand Trading Down 0.7 %

Shares of Ingersoll Rand stock opened at $102.28 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand has a 1-year low of $71.54 and a 1-year high of $106.03. The stock has a market cap of $41.22 billion, a P/E ratio of 49.89, a P/E/G ratio of 3.95 and a beta of 1.42. The stock’s 50 day simple moving average is $100.86 and its 200-day simple moving average is $95.52.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. State Street Corp raised its position in shares of Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after purchasing an additional 112,824 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Ingersoll Rand by 1.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock worth $662,074,000 after purchasing an additional 114,727 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.