Ingersoll Rand Inc. (NYSE:IR) Receives $103.83 Average Price Target from Brokerages

Ingersoll Rand Inc. (NYSE:IR) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $103.83.

Several brokerages have recently issued reports on IR. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Wells Fargo & Company upped their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI reduced their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th.

Insider Buying and Selling at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s 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 sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

Several large investors have recently modified their holdings of the stock. Natixis lifted its holdings in Ingersoll Rand by 327.2% during the 1st quarter. Natixis now owns 4,857 shares of the industrial products company’s stock worth $461,000 after buying an additional 3,720 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Ingersoll Rand by 41.7% in the first quarter. Advisors Asset Management Inc. now owns 19,696 shares of the industrial products company’s stock worth $1,870,000 after purchasing an additional 5,794 shares during the period. Canada Pension Plan Investment Board increased its stake in Ingersoll Rand by 44.5% during the first quarter. Canada Pension Plan Investment Board now owns 242,735 shares of the industrial products company’s stock valued at $23,048,000 after purchasing an additional 74,788 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Ingersoll Rand during the first quarter worth $314,000. Finally, Bayesian Capital Management LP lifted its position in shares of Ingersoll Rand by 334.6% in the 1st quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company’s stock worth $1,073,000 after buying an additional 8,700 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $104.05 on Friday. Ingersoll Rand has a 1 year low of $69.46 and a 1 year high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The firm has a 50 day moving average price of $100.03 and a 200 day moving average price of $95.03. The company has a market cap of $41.93 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 4.00 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

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.