Ingersoll Rand (NYSE:IR) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Ingersoll Rand (NYSE:IR) in a research report released on Friday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $97.00 target price on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on IR. Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an in-line rating on the stock in a research report on Monday, August 19th. Cfra restated a hold rating and set a $85.00 price objective on shares of Ingersoll Rand in a research report on Friday, August 2nd. Barclays reduced their target price on Ingersoll Rand from $106.00 to $101.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Finally, Robert W. Baird increased their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of Moderate Buy and a consensus price target of $100.00.

Ingersoll Rand Trading Up 0.7 %

Shares of IR stock opened at $87.46 on Friday. Ingersoll Rand has a 12 month low of $59.20 and a 12 month high of $101.30. The company has a market cap of $35.29 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $92.53 and its two-hundred day moving average is $92.17.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Equities analysts predict that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insiders Place Their Bets

In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 in the last quarter. 0.68% of the stock is currently owned by insiders.

Institutional Trading of Ingersoll Rand

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Ingersoll Rand by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after purchasing an additional 176,734 shares during the period. Capital International Investors grew its stake 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 during the last quarter. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 3,535,543 shares during the period. Capital Research Global Investors lifted its position in Ingersoll Rand by 15.3% during the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after acquiring an additional 1,504,414 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of Ingersoll Rand by 8.0% during the fourth quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock worth $730,383,000 after acquiring an additional 696,610 shares during the period. 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.