Ingersoll Rand (NYSE:IR) Price Target Raised to $112.00 at Stifel Nicolaus

Ingersoll Rand (NYSE:IR - Free Report) had its price target lifted by Stifel Nicolaus from $101.00 to $112.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company's stock.

A number of other analysts also recently weighed in on the company. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a research report on Friday, September 20th. Barclays lifted their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Evercore ISI decreased their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Wells Fargo & Company raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an "equal weight" rating and a $97.00 target price on the stock. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average target price of $102.17.

Ingersoll Rand Stock Down 0.3 %

Ingersoll Rand stock traded down $0.28 during trading on Wednesday, hitting $100.39. 1,556,554 shares of the company were exchanged, compared to its average volume of 2,564,493. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $93.66 and its 200 day moving average is $93.09. Ingersoll Rand has a 52 week low of $59.20 and a 52 week high of $102.74. The company has a market capitalization of $40.50 billion, a P/E ratio of 49.95, a PEG ratio of 2.72 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Analysts predict that Ingersoll Rand will post 3.22 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand's dividend payout ratio is currently 3.98%.

Insider Activity at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Andrew R. Schiesl sold 15,381 shares of the firm's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now directly owns 3,829 shares of the company's stock, valued at $344,571.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,510 shares of company stock worth $7,108,005. Company insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently bought and sold shares of the company. Capital International Investors boosted its position in Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company's stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares during the last quarter. Capital World Investors acquired a new position in Ingersoll Rand in the 1st quarter worth $440,401,000. JPMorgan Chase & Co. grew its stake in Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company's stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Ingersoll Rand by 15.3% in the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company's stock worth $1,074,477,000 after buying an additional 1,504,414 shares during the last quarter. Finally, Swedbank AB acquired a new position in Ingersoll Rand in the first quarter worth about $55,310,000. 95.27% of the stock is owned by institutional investors and hedge funds.

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.