Citigroup Cuts Ingersoll Rand (NYSE:IR) Price Target to $88.00

Ingersoll Rand (NYSE:IR - Free Report) had its target price reduced by Citigroup from $109.00 to $88.00 in a research report released on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company's stock.

Several other equities research analysts have also commented on the stock. Barclays decreased their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird upped their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Evercore ISI dropped their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Six 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.36.

Ingersoll Rand Stock Performance

Shares of IR stock traded up $0.69 during mid-day trading on Monday, hitting $72.05. The stock had a trading volume of 1,891,025 shares, compared to its average volume of 2,561,485. The firm has a market cap of $29.04 billion, a PE ratio of 34.98, a PEG ratio of 3.50 and a beta of 1.40. The company's 50-day simple moving average is $79.98 and its 200-day simple moving average is $91.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand has a fifty-two week low of $65.61 and a fifty-two week high of $106.03.

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 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%. Sell-side analysts anticipate that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 worth $4,132,576,000 after purchasing an additional 446,591 shares during the period. Capital International Investors grew its stake in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after buying an additional 1,606,363 shares during the period. Capital World Investors raised its stake in shares of Ingersoll Rand by 1.0% in 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 acquiring an additional 197,711 shares during the period. JPMorgan Chase & Co. lifted 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 acquiring an additional 649,102 shares in the last quarter. Finally, FMR LLC boosted its position in Ingersoll Rand by 8.2% during the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the period. 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.