Ingersoll Rand (NYSE:IR) Price Target Cut to $94.00 by Analysts at Stifel Nicolaus

Ingersoll Rand (NYSE:IR - Free Report) had its price target lowered by Stifel Nicolaus from $100.00 to $94.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a hold rating on the industrial products company's stock.

Several other brokerages also recently commented on IR. Citigroup cut their target price on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Robert W. Baird cut their target price on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Barclays cut their target price on Ingersoll Rand from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group raised their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Finally, UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $104.75.

Ingersoll Rand Stock Performance

Shares of IR stock traded down $3.11 on Tuesday, hitting $83.66. 2,647,871 shares of the stock were exchanged, compared to its average volume of 2,521,872. 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 firm has a market capitalization of $33.72 billion, a PE ratio of 40.61, a P/E/G ratio of 3.47 and a beta of 1.43. Ingersoll Rand has a one year low of $83.26 and a one year high of $106.03. The firm's 50 day moving average is $91.15 and its two-hundred day moving average is $94.93.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Sell-side analysts expect that Ingersoll Rand will post 3.31 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently modified their holdings of IR. Vanguard Group Inc. raised its holdings in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock valued at $4,132,576,000 after buying an additional 446,591 shares in the last quarter. Capital International Investors raised its holdings in shares of Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock valued at $3,317,537,000 after buying an additional 1,606,363 shares in the last quarter. Capital World Investors raised its holdings in shares of Ingersoll Rand by 1.0% during the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock valued at $1,817,238,000 after buying an additional 197,711 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ingersoll Rand by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock valued at $1,707,729,000 after buying an additional 649,102 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after buying an additional 1,320,223 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

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.