Ingersoll Rand (NYSE:IR – Free Report) had its target price hoisted by Citigroup from $91.00 to $104.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on IR. Stifel Nicolaus reduced their target price on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a report on Monday, April 14th. Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday. Melius lowered Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Monday. Wells Fargo & Company upped their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, Barclays upped their price target on Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.42.

Read Our Latest Report on IR

Ingersoll Rand Stock Down 1.5%

IR opened at $87.69 on Monday. The business has a 50 day moving average price of $83.04 and a 200 day moving average price of $83.20. Ingersoll Rand has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. The firm has a market cap of $35.38 billion, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 3.76 and a beta of 1.43.

Ingersoll Rand (NYSE:IR – Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts forecast that Ingersoll Rand will post 3.32 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand’s dividend payout ratio is presently 3.96%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider directly owned 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the completion of the sale, the insider owned 193,186 shares in the company, valued at $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Ingersoll Rand

A number of large investors have recently bought and sold shares of IR. Vanguard Group Inc. grew its holdings in shares of Ingersoll Rand by 1.3% during the first quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company’s stock worth $3,702,946,000 after purchasing an additional 585,455 shares during the last quarter. Capital International Investors grew its holdings in shares of Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares during the last quarter. Capital World Investors lifted its stake in shares of Ingersoll Rand by 1.0% during the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock valued at $1,817,238,000 after acquiring an additional 197,711 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ingersoll Rand by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock valued at $1,580,196,000 after acquiring an additional 866,759 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Ingersoll Rand by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock valued at $1,536,464,000 after acquiring an additional 1,849,030 shares during the period. 95.27% of the stock is currently owned by institutional investors.

About Ingersoll Rand

(Get Free Report)

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.

Further Reading

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