Ingersoll Rand Inc. (NYSE:IR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Ingersoll Rand Inc. (NYSE:IR) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $97.00.

A number of research firms have issued reports on IR. Jefferies Financial Group started coverage on Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. BNP Paribas assumed coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Robert W. Baird lifted their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Several hedge funds have recently made changes to their positions in IR. Capital International Investors lifted its stake in shares of Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares during the last quarter. Capital World Investors purchased a new position in Ingersoll Rand in the first quarter valued at about $440,401,000. Norges Bank bought a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $301,890,000. JPMorgan Chase & Co. lifted its holdings in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Ingersoll Rand by 46.6% in the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after acquiring an additional 3,119,793 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $89.80 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. Ingersoll Rand has a fifty-two week low of $59.20 and a fifty-two week high of $96.67. The firm has a market capitalization of $36.23 billion, a P/E ratio of 44.68, a P/E/G ratio of 2.91 and a beta of 1.43. The company’s 50 day moving average price is $91.90 and its two-hundred day moving average price is $87.35.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. On average, equities analysts forecast that Ingersoll Rand will post 3.18 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

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.