Ingersoll Rand (NYSE:IR) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat.com reports. They currently have $107.00 price objective on the industrial products company’s stock, down from their previous price objective of $112.00.

Several other brokerages have also weighed in on IR. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Wells Fargo & Company boosted their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Cfra raised their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Finally, Barclays raised their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.83.

Ingersoll Rand Price Performance

Shares of IR stock opened at $101.65 on Monday. The firm has a fifty day moving average of $98.12 and a two-hundred day moving average of $94.31. The firm has a market cap of $40.97 billion, a P/E ratio of 49.59, a P/E/G ratio of 3.89 and a beta of 1.42. Ingersoll Rand has a 1-year low of $69.46 and a 1-year high of $105.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This trade represents a 53.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,660 shares of company stock worth $1,348,834. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC bought a new stake in Ingersoll Rand in the second quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its holdings in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares in the last quarter. UMB Bank n.a. lifted its stake in Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares during the last quarter. Finally, Eastern Bank bought a new stake in Ingersoll Rand during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.