Stifel Nicolaus Downgrades Ingersoll Rand (NYSE:IR) to Hold

Stifel Nicolaus downgraded shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a research note released on Monday morning, Marketbeat reports. The firm currently has $107.00 target price on the industrial products company’s stock, down from their prior target price of $112.00.

Several other research firms have also recently commented on IR. Robert W. Baird reduced their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Morgan Stanley started coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Barclays upped their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $103.04 on Monday. The firm’s 50 day simple moving average is $98.94 and its 200 day simple moving average is $94.54. The firm has a market capitalization of $41.53 billion, a PE ratio of 50.26, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 1-year low of $69.46 and a 1-year high of $105.63.

Ingersoll Rand Dividend Announcement

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

Insider Buying and Selling

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. The trade was a 54.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IR. Capital International Investors increased its holdings in Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. Capital World Investors purchased a new stake in Ingersoll Rand in the first quarter worth approximately $440,401,000. FMR LLC lifted its holdings in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the period. Capital Research Global Investors grew its holdings in shares of Ingersoll Rand by 15.3% in the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after acquiring an additional 1,504,414 shares during the period. Finally, Swedbank AB bought a new position in Ingersoll Rand in the first quarter valued at about $55,310,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.