Ingersoll Rand (NYSE:IR) Price Target Lowered to $115.00 at Citigroup

Ingersoll Rand (NYSE:IR - Free Report) had its price objective trimmed by Citigroup from $119.00 to $115.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company's stock.

IR has been the subject of several other research reports. Stifel Nicolaus lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and decreased their price target for the company from $112.00 to $107.00 in a report on Monday, November 18th. 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. Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Finally, Barclays cut their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of "Moderate Buy" and a consensus price target of $106.50.

Ingersoll Rand Trading Up 1.1 %

Shares of IR traded up $1.00 on Monday, reaching $88.02. 2,969,316 shares of the company's stock were exchanged, compared to its average volume of 2,601,659. The business has a 50 day moving average price of $98.36 and a two-hundred day moving average price of $95.78. The stock has a market capitalization of $35.47 billion, a P/E ratio of 42.94, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. Ingersoll Rand has a 12 month low of $76.64 and a 12 month high of $106.03. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.90%.

Insider Transactions at Ingersoll Rand

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 stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company's stock.

Institutional Trading of Ingersoll Rand

Institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new stake in shares of Ingersoll Rand in the third quarter valued at $34,000. Eastern Bank bought a new stake in Ingersoll Rand in the 3rd quarter valued at about $42,000. Kimelman & Baird LLC purchased a new stake in Ingersoll Rand during the second quarter valued at about $57,000. Versant Capital Management Inc boosted its position in Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company's stock worth $61,000 after purchasing an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Ingersoll Rand in the third quarter worth about $65,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.