Ingersoll Rand (NYSE:IR) Given New $96.00 Price Target at Barclays

Ingersoll Rand (NYSE:IR - Free Report) had its price target cut by Barclays from $102.00 to $96.00 in a research report released on Monday morning, MarketBeat reports. They currently have an overweight rating on the industrial products company's stock.

IR has been the topic of a number of other research reports. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating on the stock in a research report on Tuesday, February 18th. Citigroup reduced their price target on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Robert W. Baird lifted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company reduced 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. Finally, UBS Group assumed coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 price target for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.36.

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Ingersoll Rand Stock Performance

Shares of NYSE IR traded down $1.54 during trading hours on Monday, reaching $79.95. 2,180,503 shares of the stock were exchanged, compared to its average volume of 2,380,878. The stock's fifty day simple moving average is $88.71 and its 200 day simple moving average is $94.34. The firm has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.81, a P/E/G ratio of 3.50 and a beta of 1.48. Ingersoll Rand has a 52 week low of $79.82 and a 52 week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data 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 predict that Ingersoll Rand will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand's dividend payout ratio is currently 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

Several large investors have recently bought and sold shares of the company. Savant Capital LLC increased its stake in shares of Ingersoll Rand by 2.3% in the fourth quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company's stock valued at $628,000 after buying an additional 158 shares during the period. Virtu Financial LLC acquired a new position in Ingersoll Rand in the 3rd quarter valued at approximately $864,000. Nordea Investment Management AB raised its stake in shares of Ingersoll Rand by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company's stock valued at $153,867,000 after acquiring an additional 271,381 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company's stock worth $8,916,000 after purchasing an additional 7,784 shares during the period. Finally, abrdn plc grew its stake in shares of Ingersoll Rand by 70.5% in the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company's stock worth $23,851,000 after purchasing an additional 108,700 shares during the last quarter. 95.27% of the stock is currently 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.