Ingersoll Rand (NYSE:IR) Shares Gap Down - Should You Sell?

Ingersoll Rand Inc. (NYSE:IR - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $96.00, but opened at $94.00. Ingersoll Rand shares last traded at $95.20, with a volume of 463,514 shares traded.

Analysts Set New Price Targets

IR has been the topic of a number of recent analyst reports. Cfra boosted their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price target for the company. Wells Fargo & Company raised their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Evercore ISI dropped their target price on Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Finally, Barclays upped their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.17.

Ingersoll Rand Stock Performance

The stock has a fifty day simple moving average of $95.27 and a two-hundred day simple moving average of $93.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The stock has a market capitalization of $37.92 billion, a price-to-earnings ratio of 47.68, a P/E/G ratio of 2.66 and a beta of 1.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Analysts forecast that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand's payout ratio is presently 3.96%.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the company's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Vicente Reynal sold 50,000 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares of the company's stock, valued at $9,284,951.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors lifted its stake in Ingersoll Rand by 113.7% in 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 period. Capital World Investors bought a new position in Ingersoll Rand during the first quarter valued at approximately $440,401,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 buying an additional 3,535,543 shares during the period. Capital Research Global Investors boosted its position in 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 purchasing an additional 1,504,414 shares during the last quarter. Finally, Swedbank AB bought a new stake in Ingersoll Rand during the first quarter valued at approximately $55,310,000. Hedge funds and other institutional investors own 95.27% of the company's stock.

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.