Ingersoll Rand (NYSE:IR) Sets New 52-Week High at $100.88

Ingersoll Rand Inc. (NYSE:IR)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $100.88 and last traded at $100.78, with a volume of 72455 shares trading hands. The stock had previously closed at $99.95.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IR shares. Jefferies Financial Group started coverage on Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Stifel Nicolaus increased their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company increased their target price on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. StockNews.com lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Barclays raised their price objective on Ingersoll Rand from $104.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $98.17.

Ingersoll Rand Stock Performance

The stock has a fifty day simple moving average of $93.15 and a two-hundred day simple moving average of $89.80. The stock has a market cap of $40.57 billion, a price-to-earnings ratio of 49.73, a P/E/G ratio of 2.82 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. Analysts expect that Ingersoll Rand Inc. will post 3.19 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

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

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Capital International Investors increased its position in Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. Capital World Investors bought a new stake in Ingersoll Rand in the 1st quarter valued at about $440,401,000. Norges Bank bought a new stake in Ingersoll Rand in the 4th quarter valued at about $301,890,000. JPMorgan Chase & Co. increased its position in Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after buying an additional 3,535,543 shares in the last quarter. Finally, Capital Research Global Investors increased its position in Ingersoll Rand by 46.6% in the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after buying an additional 3,119,793 shares in the last quarter. 95.27% of the stock is owned by 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.