Barclays Issues Positive Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its target price lifted by Barclays from $105.00 to $120.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

IR has been the subject of several other reports. UBS Group began coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target 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. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Evercore ISI lowered their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $105.08.

Ingersoll Rand Trading Down 0.7 %

Shares of IR opened at $102.28 on Thursday. The stock has a fifty day moving average of $100.86 and a two-hundred day moving average of $95.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The company has a market capitalization of $41.22 billion, a PE ratio of 49.89, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42. Ingersoll Rand has a fifty-two week low of $71.54 and a fifty-two week high of $106.03.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after buying an additional 198,200 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after buying an additional 7,784 shares in the last quarter. GDS Wealth Management lifted its holdings in Ingersoll Rand by 6.4% in the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after buying an additional 10,081 shares in the last quarter. AXA S.A. raised its stake in shares of Ingersoll Rand by 81.4% in the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after purchasing an additional 39,417 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Ingersoll Rand by 28.2% in the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after purchasing an additional 22,401 shares in the last quarter. Institutional investors and hedge funds 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.