Ingersoll Rand (NYSE:IR) Price Target Lowered to $105.00 at Wells Fargo & Company

Ingersoll Rand (NYSE:IR) had its price objective dropped by research analysts at Wells Fargo & Company from $115.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 17.73% from the company’s previous close.

Several other equities research analysts have also recently weighed in on IR. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Barclays boosted their price objective on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird dropped their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group boosted their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.83.

Ingersoll Rand Stock Up 0.0 %

Ingersoll Rand stock opened at $89.19 on Tuesday. The stock has a market cap of $35.94 billion, a PE ratio of 43.51, a P/E/G ratio of 3.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The stock’s fifty day moving average is $98.64 and its two-hundred day moving average is $95.78. Ingersoll Rand has a 1-year low of $74.58 and a 1-year high of $106.03.

Insider Buying and Selling at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand in the third quarter valued at about $34,000. Eastern Bank acquired a new stake in shares of Ingersoll Rand during the 3rd quarter valued at approximately $42,000. Kimelman & Baird LLC acquired a new stake in shares of Ingersoll Rand during the 2nd quarter valued at approximately $57,000. Princeton Global Asset Management LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth approximately $65,000. Finally, Versant Capital Management Inc grew its holdings in shares of Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares during the period. 95.27% of the stock is owned by hedge funds and other 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.