Barclays Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price target reduced by Barclays from $102.00 to $96.00 in a research note published on Monday, MarketBeat Ratings reports. They currently have an overweight rating on the industrial products company’s stock.

IR has been the topic of a number of other reports. Evercore ISI dropped their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Citigroup decreased their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.36.

Ingersoll Rand Trading Down 1.7 %

Shares of Ingersoll Rand stock opened at $81.48 on Monday. Ingersoll Rand has a 52-week low of $79.97 and a 52-week high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $88.71 and its 200-day simple moving average is $94.34. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

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

Ingersoll Rand Announces Dividend

The firm 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 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

Several institutional investors and hedge funds have recently modified their holdings of IR. Concurrent Investment Advisors LLC lifted its stake in shares of Ingersoll Rand by 41.1% during the third quarter. Concurrent Investment Advisors LLC now owns 3,475 shares of the industrial products company’s stock valued at $341,000 after buying an additional 1,012 shares during the period. Principal Financial Group Inc. increased its position in Ingersoll Rand by 0.7% during the third quarter. Principal Financial Group Inc. now owns 467,439 shares of the industrial products company’s stock worth $45,884,000 after purchasing an additional 3,165 shares during the last quarter. Assetmark Inc. increased its position in Ingersoll Rand by 61.3% during the third quarter. Assetmark Inc. now owns 97,723 shares of the industrial products company’s stock worth $9,592,000 after purchasing an additional 37,154 shares during the last quarter. Atria Investments Inc increased its position in Ingersoll Rand by 18.5% during the third quarter. Atria Investments Inc now owns 13,381 shares of the industrial products company’s stock worth $1,313,000 after purchasing an additional 2,087 shares during the last quarter. Finally, Sigma Planning Corp increased its position in Ingersoll Rand by 11.2% during the third quarter. Sigma Planning Corp now owns 12,363 shares of the industrial products company’s stock worth $1,214,000 after purchasing an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.