Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $115.00

Ingersoll Rand (NYSE:IR) had its target price trimmed by Barclays from $120.00 to $115.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. Citigroup raised their target price on Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Cfra raised their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Robert W. Baird reduced their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $106.83.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $87.08 on Wednesday. Ingersoll Rand has a 52-week low of $75.54 and a 52-week high of $106.03. The firm has a market capitalization of $35.09 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 3.84 and a beta of 1.44. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $98.36 and a 200-day simple moving average of $95.69.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

A number of large investors have recently bought and sold shares of IR. FMR LLC boosted its holdings in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after acquiring an additional 1,462,538 shares in the last quarter. International Assets Investment Management LLC increased its stake in Ingersoll Rand by 9,681.5% during the 3rd quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock worth $353,720,000 after buying an additional 356,665 shares during the period. Franklin Resources Inc. lifted its stake in shares of Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Institutional investors and hedge funds 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.