StockNews.com Downgrades Ingersoll Rand (NYSE:IR) to Hold

StockNews.com downgraded shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a report issued on Saturday.

Several other research firms have also commented on IR. Barclays increased their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Citigroup boosted their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a buy rating in a research report on Monday, April 8th. Cfra upped their target price on Ingersoll Rand from $68.00 to $85.00 and gave the company a hold rating in a report on Friday, February 16th. The Goldman Sachs Group upped their target price on Ingersoll Rand from $87.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an overweight rating in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $95.82.

Ingersoll Rand Stock Up 1.5 %

IR opened at $89.85 on Friday. The company’s 50-day moving average price is $91.90 and its two-hundred day moving average price is $81.21. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. Ingersoll Rand has a twelve month low of $56.49 and a twelve month high of $96.17. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. As a group, equities analysts expect that Ingersoll Rand will post 3.1 earnings per share for the current year.

Ingersoll Rand announced that its board has approved a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Insider Buying and Selling at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock valued at $26,374,789 over the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Large investors have recently modified their holdings of the stock. Riverview Trust Co bought a new position in Ingersoll Rand in the 1st quarter worth about $29,000. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand during the 4th quarter valued at about $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth approximately $28,000. Scarborough Advisors LLC bought a new position in Ingersoll Rand in the fourth quarter worth approximately $32,000. Finally, OFI Invest Asset Management bought a new stake in Ingersoll Rand during the 3rd quarter valued at $25,000. Institutional investors 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.