Ingersoll Rand (NYSE:IR) Price Target Lowered to $102.00 at Barclays

Ingersoll Rand (NYSE:IR) had its price objective trimmed by Barclays from $115.00 to $102.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on IR. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted 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. UBS Group started coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Robert W. Baird lifted their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $104.50.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $86.66 on Tuesday. Ingersoll Rand has a 52 week low of $83.72 and a 52 week high of $106.03. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $34.92 billion, a PE ratio of 42.27, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. The company’s 50-day moving average price is $92.41 and its two-hundred day moving average price is $95.08.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%. As a group, sell-side analysts anticipate that Ingersoll Rand will post 3.2 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid 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 is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after buying an additional 446,591 shares during the last quarter. Capital International Investors increased its stake in shares of 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 worth $3,317,537,000 after purchasing an additional 1,606,363 shares during the last quarter. Capital World Investors raised its holdings in shares of Ingersoll Rand by 1.0% during the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock valued at $1,817,238,000 after purchasing an additional 197,711 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ingersoll Rand by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after purchasing an additional 649,102 shares during the last quarter. Finally, FMR LLC boosted its holdings in Ingersoll Rand by 8.2% in 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 in the last quarter. 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.