Ingersoll Rand (NYSE:IR) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a research note released on Thursday morning.

IR has been the topic of a number of other reports. Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. The Goldman Sachs Group boosted their price objective on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, February 21st. UBS Group boosted their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a buy rating in a report on Monday, January 29th. Evercore ISI lowered shares of Ingersoll Rand from an outperform rating to an in-line rating and boosted their price target for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a neutral rating and a $92.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $92.73.

Ingersoll Rand Trading Up 0.7 %

Shares of IR stock opened at $92.72 on Thursday. Ingersoll Rand has a 12-month low of $54.54 and a 12-month high of $96.17. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $91.62 and its 200 day moving average is $79.45. The stock has a market capitalization of $37.41 billion, a P/E ratio of 48.44, a P/E/G ratio of 3.22 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Research analysts expect that Ingersoll Rand will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is currently 4.21%.

Insider Activity at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand during the third quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand in the fourth quarter worth $27,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Ingersoll Rand during the third quarter valued at $28,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $28,000. Finally, Riverview Trust Co acquired a new position in shares of Ingersoll Rand during the first quarter valued at $29,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.