Wells Fargo & Company Cuts Ingersoll Rand (NYSE:IR) Price Target to $90.00

Ingersoll Rand (NYSE:IR) had its price objective decreased by Wells Fargo & Company from $110.00 to $90.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on the company. Barclays boosted their price target on Ingersoll Rand from $91.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Zacks Research raised Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Wall Street Zen upgraded Ingersoll Rand from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Stifel Nicolaus upped their price target on Ingersoll Rand from $87.00 to $101.00 and gave the stock a “hold” rating in a research note on Tuesday, February 17th. Finally, Robert W. Baird set a $115.00 price target on Ingersoll Rand in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.43.

Ingersoll Rand Stock Down 0.0%

IR stock opened at $77.89 on Wednesday. The company has a market cap of $30.50 billion, a price-to-earnings ratio of 53.72, a price-to-earnings-growth ratio of 4.81 and a beta of 1.33. The company has a fifty day moving average price of $88.83 and a 200 day moving average price of $83.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.49. Ingersoll Rand has a 12 month low of $65.61 and a 12 month high of $100.96.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 12th. The industrial products company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Ingersoll Rand had a net margin of 7.60% and a return on equity of 12.62%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the business posted $0.84 earnings per share. Ingersoll Rand’s quarterly revenue was up 10.1% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. Sell-side analysts expect that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 4th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, March 4th. Ingersoll Rand’s payout ratio is currently 5.52%.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 19,122 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $97.67, for a total transaction of $1,867,645.74. Following the transaction, the chief accounting officer owned 12,153 shares of the company’s stock, valued at $1,186,983.51. This represents a 61.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vikram Kini sold 28,367 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $96.50, for a total value of $2,737,415.50. Following the completion of the transaction, the chief financial officer owned 98,517 shares of the company’s stock, valued at $9,506,890.50. The trade was a 22.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 584,771 shares of company stock worth $54,976,547 in the last three months. 0.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently made changes to their positions in the stock. Capital International Investors boosted its holdings in Ingersoll Rand by 18.5% during the third quarter. Capital International Investors now owns 50,002,133 shares of the industrial products company’s stock worth $4,131,157,000 after buying an additional 7,816,194 shares in the last quarter. Norges Bank purchased a new position in Ingersoll Rand in the fourth quarter valued at about $407,915,000. Capital World Investors increased its holdings in Ingersoll Rand by 19.2% in the third quarter. Capital World Investors now owns 31,787,657 shares of the industrial products company’s stock valued at $2,626,296,000 after buying an additional 5,110,668 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Ingersoll Rand by 18.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock worth $1,726,308,000 after acquiring an additional 3,423,501 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Ingersoll Rand by 14.3% during the 3rd quarter. Capital Research Global Investors now owns 19,254,676 shares of the industrial products company’s stock worth $1,590,818,000 after acquiring an additional 2,406,183 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.