Ingersoll Rand (NYSE:IR) Now Covered by UBS Group

Analysts at UBS Group initiated coverage on shares of Ingersoll Rand (NYSE:IR - Get Free Report) in a report released on Wednesday, Marketbeat.com reports. The firm set a "buy" rating and a $124.00 price target on the industrial products company's stock. UBS Group's price objective suggests a potential upside of 18.83% from the company's current price.

Several other brokerages also recently issued reports on IR. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $101.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Robert W. Baird cut their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Cfra raised their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a "hold" rating in a research report on Friday, September 20th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $104.25.

Ingersoll Rand Stock Performance

NYSE:IR traded up $0.12 during mid-day trading on Wednesday, hitting $104.35. The stock had a trading volume of 1,717,029 shares, compared to its average volume of 2,538,910. Ingersoll Rand has a twelve month low of $69.29 and a twelve month high of $105.63. The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 3.96 and a beta of 1.42. The company's 50 day simple moving average is $96.87 and its 200 day simple moving average is $94.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Vicente Reynal sold 50,000 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Scheske sold 2,531 shares of the business's stock in a transaction dated 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 approximately $1,160,510.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,660 shares of company stock worth $5,974,334 over the last quarter. Company insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors grew its position in Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company's stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. Capital World Investors bought a new stake in Ingersoll Rand in the 1st quarter worth about $440,401,000. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company's stock worth $1,517,040,000 after purchasing an additional 3,535,543 shares in the last quarter. FMR LLC grew its position 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 worth $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. Finally, Capital Research Global Investors grew its position in Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company's stock worth $1,074,477,000 after purchasing an additional 1,504,414 shares in the last quarter. 95.27% of the stock is owned by 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.