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

Ingersoll Rand (NYSE:IR - Get Free Report) had its price target lowered by equities research analysts at Barclays from $120.00 to $115.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Barclays's price objective points to a potential upside of 28.94% from the company's previous close.

A number of other research analysts have also weighed in on the company. Robert W. Baird decreased their price objective on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday. Cfra lifted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Citigroup increased their price objective on Ingersoll Rand from $112.00 to $119.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, Wolfe Research raised Ingersoll Rand to a "hold" rating in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average target price of $106.83.

Ingersoll Rand Price Performance

Shares of IR stock traded up $0.03 on Wednesday, reaching $89.19. 2,441,270 shares of the company were exchanged, compared to its average volume of 2,558,054. The business has a 50-day moving average price of $98.64 and a 200 day moving average price of $95.78. Ingersoll Rand has a 1 year low of $74.58 and a 1 year high of $106.03. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 43.51, 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.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IR. Wealthspire Advisors LLC lifted its position in Ingersoll Rand by 5.5% in the second 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 boosted its holdings in shares of Ingersoll Rand by 2.4% in the third 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 in the last quarter. Opal Wealth Advisors LLC increased its position in Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company's stock worth $211,000 after purchasing an additional 121 shares during the period. Asio Capital LLC grew its holdings in Ingersoll Rand by 0.3% during the third quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company's stock worth $4,327,000 after acquiring an additional 133 shares during the period. Finally, GHP Investment Advisors Inc. grew its stake in shares of Ingersoll Rand by 5.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,821 shares of the industrial products company's stock worth $277,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

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.