Analysts Set Ingersoll Rand Inc. (NYSE:IR) Price Target at $92.73

Ingersoll Rand Inc. (NYSE:IR) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $92.73.

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Citigroup increased their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. StockNews.com raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a research note on Sunday, April 7th. Finally, BNP Paribas assumed coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target for the company.

Ingersoll Rand Stock Performance

NYSE IR opened at $91.27 on Friday. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of 48.04, a PEG ratio of 3.20 and a beta of 1.44. The company has a 50 day moving average of $90.87 and a 200-day moving average of $78.16. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Ingersoll Rand has a 1-year low of $53.24 and a 1-year high of $96.17.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. On average, equities analysts forecast that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s payout ratio is currently 4.21%.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the transaction, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,011 shares of company stock valued at $26,374,789. Company insiders own 0.83% of the company’s stock.

Institutional Trading of Ingersoll Rand

Several institutional investors have recently added to or reduced their stakes in IR. Asset Management One Co. Ltd. lifted its holdings in Ingersoll Rand by 3.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock worth $12,691,000 after buying an additional 6,042 shares during the period. Consilium Wealth Advisory LLC lifted its stake in shares of Ingersoll Rand by 17.5% during the 4th quarter. Consilium Wealth Advisory LLC now owns 14,864 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 2,210 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Ingersoll Rand by 8.6% during the 3rd quarter. Natixis Advisors L.P. now owns 136,629 shares of the industrial products company’s stock valued at $8,706,000 after buying an additional 10,840 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Ingersoll Rand by 2.3% during the 3rd quarter. Hsbc Holdings PLC now owns 568,633 shares of the industrial products company’s stock valued at $36,222,000 after buying an additional 13,036 shares in the last quarter. Finally, Strategic Advisors LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at $340,000. 95.27% of the stock is currently 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.