Ingersoll Rand (NYSE:IR) Sets New 52-Week High – Should You Buy?

Ingersoll Rand Inc. (NYSE:IR) shares hit a new 52-week high during trading on Monday . The stock traded as high as $105.78 and last traded at $105.75, with a volume of 804830 shares changing hands. The stock had previously closed at $104.00.

Analyst Ratings Changes

A number of research firms have recently commented on IR. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price objective for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Cfra increased their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Robert W. Baird cut their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.83.

Ingersoll Rand Stock Up 1.3 %

The business’s 50 day simple moving average is $99.20 and its 200 day simple moving average is $94.71. 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 company has a market capitalization of $42.46 billion, a PE ratio of 50.73, a P/E/G ratio of 3.95 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given 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 is Thursday, November 14th. Ingersoll Rand’s payout ratio is presently 3.90%.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. State Street Corp boosted its position in Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after buying an additional 112,824 shares during the period. Geode Capital Management LLC increased its position in shares of Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after acquiring an additional 54,952 shares during the period. Fisher Asset Management LLC raised its stake in shares of Ingersoll Rand by 1.7% in the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock valued at $662,074,000 after acquiring an additional 114,727 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after purchasing an additional 224,463 shares in the last quarter. Hedge funds and other 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.