Ingersoll Rand Inc. (NYSE:IR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Ingersoll Rand Inc. (NYSE:IR) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $99.40.

Several research firms have issued reports on IR. Barclays boosted their target price on Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Finally, Citigroup boosted their target price on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, May 5th.

Ingersoll Rand Stock Performance

Shares of IR opened at $89.01 on Monday. The stock has a market capitalization of $35.91 billion, a P/E ratio of 44.06, a P/E/G ratio of 3.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. Ingersoll Rand has a 1 year low of $65.61 and a 1 year high of $106.03. The company’s fifty day moving average is $82.83 and its two-hundred day moving average is $83.22.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. On average, sell-side analysts predict that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Insider Activity

In related news, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the transaction, the insider directly owned 193,186 shares in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider owned 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Institutional investors and hedge funds have recently made changes to their positions in the stock. Compass Wealth Management LLC lifted its holdings in Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 137 shares in the last quarter. Global Wealth Strategies & Associates raised its position in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after buying an additional 286 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Ingersoll Rand during the fourth quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC grew its stake in Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 313 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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.