Ingersoll Rand (NYSE:IR) Price Target Raised to $109.00 at Robert W. Baird

Ingersoll Rand (NYSE:IR) had its price objective increased by Robert W. Baird from $107.00 to $109.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other research analysts have also weighed in on IR. Barclays raised their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $87.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Cfra increased their target price on Ingersoll Rand from $68.00 to $85.00 and gave the stock a hold rating in a research note on Friday, February 16th. Wells Fargo & Company upped their target price on Ingersoll Rand from $83.00 to $100.00 and gave the company an overweight rating in a report on Tuesday, February 20th. Finally, BNP Paribas began coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a neutral rating and a $92.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of Moderate Buy and an average price target of $95.82.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $91.00 on Monday. Ingersoll Rand has a 12 month low of $56.49 and a 12 month high of $96.17. The stock’s fifty day moving average price is $91.92 and its 200-day moving average price is $81.28. The firm has a market cap of $36.71 billion, a P/E ratio of 45.27, a P/E/G ratio of 3.02 and a beta of 1.40. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share 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, equities research analysts expect that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has initiated a share buyback plan on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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

Insider Activity

In other news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the sale, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The transaction was disclosed in a filing with the SEC, which is available at this link. In other 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 completion of the sale, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of Ingersoll Rand

Several hedge funds and other institutional investors have recently modified their holdings of IR. Greenleaf Trust increased its holdings in shares of Ingersoll Rand by 2.0% in the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after buying an additional 118 shares during the period. Spire Wealth Management raised its holdings in Ingersoll Rand by 8.5% in the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 126 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Ingersoll Rand by 28.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after buying an additional 141 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Ingersoll Rand by 2.7% in the first quarter. Bleakley Financial Group LLC now owns 6,103 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 163 shares during the last quarter. Finally, Stablepoint Partners LLC boosted its position in Ingersoll Rand by 2.4% in the first quarter. Stablepoint Partners LLC now owns 7,323 shares of the industrial products company’s stock worth $695,000 after purchasing an additional 169 shares during the last quarter. Institutional investors 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.