Evercore ISI Has Lowered Expectations for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR - Free Report) had its price target trimmed by Evercore ISI from $100.00 to $91.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an in-line rating on the industrial products company's stock.

Several other brokerages have also recently weighed in on IR. Stifel Nicolaus dropped their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating for the company in a research report on Tuesday. 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. Robert W. Baird increased their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday. Citigroup dropped their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, UBS Group started coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a "buy" rating and a $124.00 price target for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $104.75.

Ingersoll Rand Trading Down 3.6 %

Shares of Ingersoll Rand stock traded down $3.11 during trading on Wednesday, reaching $83.66. The company's stock had a trading volume of 2,633,399 shares, compared to its average volume of 2,521,430. Ingersoll Rand has a 52-week low of $83.26 and a 52-week high of $106.03. The company has a market cap of $33.72 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 3.47 and a beta of 1.43. The firm's 50-day moving average is $91.50 and its two-hundred day moving average is $94.95. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, sell-side analysts anticipate that Ingersoll Rand will post 3.31 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand's payout ratio is 3.88%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Savant Capital LLC increased its stake in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock worth $628,000 after acquiring an additional 158 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter worth about $864,000. Nordea Investment Management AB increased its stake in Ingersoll Rand by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Ingersoll Rand by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company's stock valued at $8,916,000 after purchasing an additional 7,784 shares in the last quarter. Finally, abrdn plc increased its stake in Ingersoll Rand by 70.5% during the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock valued at $23,851,000 after purchasing an additional 108,700 shares in the last quarter. 95.27% of the stock is currently owned by 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.