Ingersoll Rand (NYSE:IR) Given New $91.00 Price Target at Evercore ISI

Ingersoll Rand (NYSE:IR) had its price objective cut by Evercore ISI from $100.00 to $91.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an in-line rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on IR. Stifel Nicolaus decreased their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group assumed coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Robert W. Baird boosted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays decreased their target price on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Trading Down 1.1 %

NYSE:IR opened at $85.76 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 12-month low of $83.72 and a 12-month high of $106.03. The firm has a market cap of $34.56 billion, a P/E ratio of 41.63, a PEG ratio of 3.40 and a beta of 1.43. The stock’s 50 day simple moving average is $91.79 and its 200-day simple moving average is $95.01.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Equities analysts anticipate that Ingersoll Rand will post 3.3 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

Several institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its stake in Ingersoll Rand by 4.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 109 shares during the last quarter. Kanawha Capital Management LLC increased its stake in Ingersoll Rand by 2.4% in the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after purchasing an additional 119 shares during the last quarter. UMB Bank n.a. increased its stake in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares during the last quarter. RDA Financial Network increased its stake in Ingersoll Rand by 3.1% in the fourth quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 128 shares during the last quarter. Finally, FSM Wealth Advisors LLC increased its stake in Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 134 shares during the last quarter. 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.