Brokerages Set Ingersoll Rand Inc. (NYSE:IR) Target Price at $106.83

Shares of Ingersoll Rand Inc. (NYSE:IR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $106.83.

A number of research analysts have recently issued reports on IR shares. The Goldman Sachs Group upped their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Cfra increased their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a "hold" rating in a report on Friday, October 4th. Citigroup increased their target price on Ingersoll Rand from $112.00 to $119.00 and gave the company a "buy" rating in a report on Monday, December 9th. Wolfe Research raised Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Finally, Wells Fargo & Company lowered 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.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded up $0.76 during midday trading on Monday, reaching $87.78. 875,262 shares of the company's stock traded hands, compared to its average volume of 2,297,722. The company has a market cap of $35.38 billion, a price-to-earnings ratio of 42.82, a P/E/G ratio of 3.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand has a one year low of $76.64 and a one year high of $106.03. The stock has a 50 day moving average of $98.36 and a 200 day moving average of $95.78.

Ingersoll Rand Announces Dividend

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

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 2,531 shares of the company'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 sale, the chief accounting officer now directly owns 11,910 shares of the company's stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by insiders.

Institutional Trading of Ingersoll Rand

Several hedge funds have recently modified their holdings of IR. Wealthspire Advisors LLC grew its position in Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 119 shares during the last quarter. Kanawha Capital Management LLC grew its position in Ingersoll Rand by 2.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company's stock valued at $500,000 after acquiring an additional 119 shares during the last quarter. Opal Wealth Advisors LLC grew its position in Ingersoll Rand by 6.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company's stock valued at $211,000 after acquiring an additional 121 shares during the last quarter. Asio Capital LLC grew its position in Ingersoll Rand by 0.3% in the 3rd quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company's stock valued at $4,327,000 after acquiring an additional 133 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Ingersoll Rand by 5.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,821 shares of the industrial products company's stock valued at $277,000 after acquiring an additional 144 shares during the last quarter. 95.27% of the stock is 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.