Ingersoll Rand (NYSE:IR) Given New $105.00 Price Target at Barclays

Ingersoll Rand (NYSE:IR) had its price objective upped by equities research analysts at Barclays from $101.00 to $105.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective points to a potential upside of 4.76% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Stifel Nicolaus upped their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Evercore ISI reduced their price objective on 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. Morgan Stanley assumed coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Finally, Jefferies Financial Group assumed 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. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.33.

Ingersoll Rand Stock Performance

IR traded up $2.23 during trading on Wednesday, reaching $100.23. 1,643,071 shares of the company’s stock were exchanged, compared to its average volume of 2,589,164. Ingersoll Rand has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $92.25 and a 200 day moving average price of $92.61. The company has a market capitalization of $40.44 billion, a P/E ratio of 49.66, a PEG ratio of 2.75 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, analysts predict that Ingersoll Rand will post 3.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock worth $7,108,005 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Large investors have recently made changes to their positions in the stock. Greenleaf Trust increased its holdings in Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in Ingersoll Rand by 5.5% during the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 119 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares during the period. Resonant Capital Advisors LLC grew its holdings in Ingersoll Rand by 4.2% during the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 133 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 141 shares during the period. Institutional investors own 95.27% of the company’s stock.

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.