Ingersoll Rand Inc. (NYSE:IR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Ingersoll Rand Inc. (NYSE:IR – Get Rating) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $60.36.

A number of analysts recently weighed in on IR shares. Wells Fargo & Company reduced their target price on shares of Ingersoll Rand from $62.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 13th. Morgan Stanley raised their price objective on shares of Ingersoll Rand from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. StockNews.com raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a research note on Saturday, May 13th. Citigroup raised their price objective on shares of Ingersoll Rand from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 10th. Finally, Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $60.00 to $61.00 and gave the stock a “hold” rating in a research note on Monday, April 17th.

Insider Activity

In other news, insider Vicente Reynal sold 25,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $60.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now owns 102,856 shares in the company, valued at approximately $6,171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quintet Private Bank Europe S.A. bought a new position in Ingersoll Rand in the 1st quarter worth $26,000. Scissortail Wealth Management LLC bought a new position in shares of Ingersoll Rand during the 1st quarter worth about $839,549,000. Compass Wealth Management LLC bought a new position in shares of Ingersoll Rand during the 4th quarter worth about $32,000. Cullen Frost Bankers Inc. increased its holdings in shares of Ingersoll Rand by 81.3% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 638 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 286 shares during the period. Finally, Field & Main Bank increased its holdings in shares of Ingersoll Rand by 42.3% during the 1st quarter. Field & Main Bank now owns 673 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Institutional investors own 99.73% of the company’s stock.

Ingersoll Rand Trading Down 2.9 %

Shares of NYSE:IR opened at $58.01 on Wednesday. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 35.81 and a beta of 1.42. Ingersoll Rand has a 1-year low of $39.28 and a 1-year high of $61.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.50 and a current ratio of 2.16. The company has a 50 day moving average price of $56.47 and a 200 day moving average price of $55.64.

Ingersoll Rand (NYSE:IR – Get Rating) last issued its earnings results on Tuesday, February 21st. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Ingersoll Rand had a net margin of 10.66% and a return on equity of 10.69%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. On average, research analysts anticipate that Ingersoll Rand will post 2.52 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Stockholders of record on Wednesday, May 24th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Ingersoll Rand’s dividend payout ratio is currently 4.94%.

Ingersoll Rand Company Profile

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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.