Brokerages Set Ingersoll Rand Inc. (NYSE:IR) Target Price at $100.36

Ingersoll Rand Inc. (NYSE:IR) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $100.36.

A number of analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Cfra reissued a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective for the company. Barclays reduced their target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd.

Insiders Place Their Bets

In other news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,867 shares of company stock valued at $23,494,392. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IR. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand during the 2nd quarter worth about $25,000. Kapitalo Investimentos Ltda bought a new stake in shares of Ingersoll Rand during the fourth quarter worth $28,000. Headlands Technologies LLC bought a new stake in shares of Ingersoll Rand during the first quarter worth about $28,000. Riverview Trust Co acquired a new stake in shares of Ingersoll Rand in the first quarter valued at about $29,000. Finally, Scarborough Advisors LLC acquired a new stake in Ingersoll Rand during the 4th quarter worth about $32,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 1.3 %

NYSE IR opened at $91.01 on Friday. The firm has a market capitalization of $36.72 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 2.68 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.71 and a current ratio of 2.18. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.30. The company’s 50 day moving average price is $93.31 and its 200 day moving average price is $91.76.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

Ingersoll Rand declared that its board has initiated a share repurchase plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.