Barclays Trims Ingersoll Rand (NYSE:IR) Target Price to $104.00

Ingersoll Rand (NYSE:IR) had its price objective cut by Barclays from $105.00 to $104.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on IR. The Goldman Sachs Group upped their price target on Ingersoll Rand from $87.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Stifel Nicolaus restated a buy rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. StockNews.com lowered Ingersoll Rand from a buy rating to a hold rating in a report on Saturday, May 4th. UBS Group boosted their price target on Ingersoll Rand from $78.00 to $93.00 and gave the stock a buy rating in a research report on Monday, January 29th. Finally, Robert W. Baird increased their price objective on Ingersoll Rand from $107.00 to $109.00 and gave the company an outperform rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $95.82.

Ingersoll Rand Stock Performance

Shares of IR opened at $90.75 on Monday. The firm has a market cap of $36.61 billion, a P/E ratio of 45.15, a PEG ratio of 3.02 and a beta of 1.40. Ingersoll Rand has a twelve month low of $56.49 and a twelve month high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The firm’s 50 day moving average price is $91.90 and its two-hundred day moving average price is $81.21.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. On average, analysts forecast that Ingersoll Rand will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Ingersoll Rand declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 240,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares in the company, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in Ingersoll Rand in the 1st quarter valued at about $28,000. Riverview Trust Co acquired a new position in Ingersoll Rand during the first quarter valued at approximately $29,000. ANTIPODES PARTNERS Ltd bought a new stake in Ingersoll Rand during the fourth quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at $28,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Ingersoll Rand during the 4th quarter worth $32,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.