Barclays Issues Positive Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price objective raised by Barclays from $105.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other brokerages also recently commented on IR. Morgan Stanley began coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Cfra increased their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Evercore ISI cut their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Robert W. Baird cut their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.08.

Ingersoll Rand Trading Down 1.0 %

Shares of Ingersoll Rand stock opened at $102.96 on Thursday. The firm has a 50-day moving average of $100.77 and a 200-day moving average of $95.46. The stock has a market cap of $41.49 billion, a PE ratio of 50.22, a PEG ratio of 3.96 and a beta of 1.42. Ingersoll Rand has a 52-week low of $71.21 and a 52-week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Ingersoll Rand in the 2nd quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the 3rd quarter worth about $34,000. Eastern Bank acquired a new position in Ingersoll Rand in the 3rd quarter worth about $42,000. UMB Bank n.a. raised its holdings in Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 309 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Ingersoll Rand during the second quarter valued at approximately $43,000. 95.27% of the stock is owned by institutional investors.

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.