Ingersoll Rand (NYSE:IR) Price Target Cut to $93.00 by Analysts at Barclays

Ingersoll Rand (NYSE:IR - Free Report) had its price target trimmed by Barclays from $96.00 to $93.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company's stock.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a report on Tuesday, February 18th. Evercore ISI decreased their target price on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Robert W. Baird upped their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Citigroup decreased their price objective on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.09.

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Ingersoll Rand Price Performance

NYSE:IR traded down $1.92 during midday trading on Wednesday, hitting $79.38. 1,769,081 shares of the stock were exchanged, compared to its average volume of 2,452,322. The business has a 50-day moving average price of $86.69 and a two-hundred day moving average price of $93.70. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 3.50 and a beta of 1.48. Ingersoll Rand has a one year low of $79.03 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Sell-side analysts predict that Ingersoll Rand will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand's dividend payout ratio is presently 3.88%.

Institutional Trading of Ingersoll Rand

Several large investors have recently made changes to their positions in IR. DRW Securities LLC bought a new stake in Ingersoll Rand during the third quarter worth approximately $543,000. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of Ingersoll Rand by 4.7% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 21,005 shares of the industrial products company's stock worth $2,062,000 after buying an additional 946 shares during the period. FMR LLC grew its stake in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the last quarter. Brooklyn Investment Group bought a new position in Ingersoll Rand in the 3rd quarter worth $166,000. Finally, Avestar Capital LLC lifted its position in Ingersoll Rand by 11.2% during the 3rd quarter. Avestar Capital LLC now owns 3,278 shares of the industrial products company's stock worth $322,000 after acquiring an additional 329 shares during the last quarter. 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.