Ingersoll Rand (NYSE:IR) Reaches New 52-Week Low - Here's Why

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $73.89 and last traded at $74.08, with a volume of 1377134 shares traded. The stock had previously closed at $81.70.

Analyst Ratings Changes

Several equities analysts have commented on IR shares. Barclays decreased their price objective on shares of Ingersoll Rand from $96.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company decreased 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 note on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. 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 report on Tuesday, February 18th. Finally, Stifel Nicolaus lowered their target price on Ingersoll Rand from $100.00 to $94.00 and set a "hold" rating on the stock in a research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $105.09.

Ingersoll Rand Stock Down 2.0 %

The company has a market cap of $26.83 billion, a P/E ratio of 32.31, a PEG ratio of 3.50 and a beta of 1.40. The stock has a 50-day moving average of $84.56 and a 200 day moving average of $93.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

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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 analysts' consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand's payout ratio is presently 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC raised its holdings in Ingersoll Rand by 108.2% during the 3rd quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company's stock worth $724,000 after purchasing an additional 3,834 shares during the last quarter. Centiva Capital LP bought a new position in Ingersoll Rand during the third quarter worth $328,000. HighTower Advisors LLC lifted its holdings in Ingersoll Rand by 171.8% in the third quarter. HighTower Advisors LLC now owns 82,128 shares of the industrial products company's stock valued at $8,059,000 after buying an additional 51,911 shares during the period. Quantinno Capital Management LP grew its holdings in Ingersoll Rand by 48.0% during the 3rd quarter. Quantinno Capital Management LP now owns 16,391 shares of the industrial products company's stock worth $1,609,000 after acquiring an additional 5,317 shares during the period. Finally, Stifel Financial Corp grew its holdings in Ingersoll Rand by 21.1% during the 3rd quarter. Stifel Financial Corp now owns 142,232 shares of the industrial products company's stock worth $13,962,000 after acquiring an additional 24,792 shares during the period. 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.