Ingersoll Rand (NYSE:IR) Sets New 1-Year Low - Here's What Happened

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $65.61 and last traded at $66.56, with a volume of 4638451 shares. The stock had previously closed at $67.94.

Analysts Set New Price Targets

IR has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a research note on Monday. Wells Fargo & Company cut their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a report on Monday, January 13th. Evercore ISI cut their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Ingersoll Rand Price Performance

The firm has a 50-day simple moving average of $81.94 and a 200 day simple moving average of $91.93. The firm has a market cap of $29.66 billion, a PE ratio of 35.72, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. 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 data on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors have recently modified their holdings of IR. Merit Financial Group LLC boosted its stake in Ingersoll Rand by 12.3% in the 1st quarter. Merit Financial Group LLC now owns 2,841 shares of the industrial products company's stock worth $227,000 after purchasing an additional 312 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Ingersoll Rand by 149,680.0% in the first quarter. Harbor Investment Advisory LLC now owns 7,489 shares of the industrial products company's stock worth $599,000 after buying an additional 7,484 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Ingersoll Rand by 1.7% during the first quarter. Douglas Lane & Associates LLC now owns 897,317 shares of the industrial products company's stock valued at $71,812,000 after acquiring an additional 15,191 shares in the last quarter. Czech National Bank raised its holdings in Ingersoll Rand by 5.9% in the 1st quarter. Czech National Bank now owns 92,535 shares of the industrial products company's stock worth $7,406,000 after acquiring an additional 5,154 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Ingersoll Rand by 6.5% in the 1st quarter. Rhumbline Advisers now owns 746,554 shares of the industrial products company's stock valued at $59,747,000 after acquiring an additional 45,417 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.