Ingersoll Rand (NYSE:IR) Hits New 12-Month Low – What’s Next?

Ingersoll Rand Inc. (NYSE:IR) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $73.89 and last traded at $74.08, with a volume of 1377134 shares traded. The stock had previously closed at $81.70.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IR shares. Barclays cut their price objective on shares of Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Stifel Nicolaus reduced their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Citigroup dropped their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Trading Down 9.9 %

The company’s fifty day moving average is $85.93 and its 200-day moving average is $93.50. The company has a market capitalization of $29.67 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.11%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently made changes to their positions in IR. Norges Bank acquired a new position in Ingersoll Rand during the 4th quarter valued at about $429,591,000. Capital International Investors grew its stake in Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 1,462,538 shares during the period. FMR LLC lifted its holdings in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock worth $1,110,593,000 after buying an additional 679,856 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

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.