Ingersoll-Rand (IR) PT Lowered to $110.00 at Barclays

Ingersoll-Rand (NYSE:IR) had its price objective decreased by Barclays from $115.00 to $110.00 in a report issued on Friday. Barclays currently has an overweight rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the stock. Citigroup raised their price target on shares of Ingersoll-Rand from $117.00 to $118.00 and gave the stock a buy rating in a research report on Thursday, October 25th. Robert W. Baird set a $106.00 price target on shares of Ingersoll-Rand and gave the stock a hold rating in a research report on Thursday, October 25th. Credit Suisse Group began coverage on shares of Ingersoll-Rand in a research report on Friday, October 12th. They set an outperform rating and a $108.00 price target on the stock. JPMorgan Chase & Co. raised shares of Ingersoll-Rand from a neutral rating to an overweight rating in a report on Friday, September 21st. Finally, Stephens began coverage on shares of Ingersoll-Rand in a report on Monday, November 19th. They issued an overweight rating and a $118.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $109.64.

NYSE:IR opened at $94.96 on Friday. Ingersoll-Rand has a 52 week low of $79.63 and a 52 week high of $107.08. The stock has a market cap of $23.19 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.41.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Ingersoll-Rand had a net margin of 10.03% and a return on equity of 18.75%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the firm earned $1.44 earnings per share. Ingersoll-Rand’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Ingersoll-Rand will post 5.58 earnings per share for the current year.

Ingersoll-Rand declared that its board has approved a stock repurchase plan on Wednesday, October 3rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Ingersoll-Rand news, CEO Michael W. Lamach sold 166,407 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $90.39, for a total value of $15,041,528.73. Following the transaction, the chief executive officer now directly owns 417,275 shares of the company’s stock, valued at approximately $37,717,487.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Ingersoll-Rand by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,140,057 shares of the industrial products company’s stock worth $1,753,427,000 after buying an additional 43,240 shares during the period. Vanguard Group Inc boosted its position in Ingersoll-Rand by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock worth $1,753,427,000 after buying an additional 43,240 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Ingersoll-Rand by 10.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,609,711 shares of the industrial products company’s stock worth $778,473,000 after buying an additional 740,151 shares during the period. FMR LLC boosted its position in Ingersoll-Rand by 18.8% during the 3rd quarter. FMR LLC now owns 5,304,443 shares of the industrial products company’s stock worth $542,645,000 after buying an additional 838,513 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Ingersoll-Rand by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock worth $528,432,000 after buying an additional 1,085,581 shares during the period. 79.50% of the stock is currently owned by hedge funds and other institutional investors.

About Ingersoll-Rand

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

See Also: Intrinsic Value

Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

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