Ingersoll Rand (NYSE:IR) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus cut shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a research note published on Monday, Marketbeat reports. The brokerage currently has $107.00 target price on the industrial products company’s stock, down from their previous target price of $112.00.

Several other research firms also recently weighed in on IR. Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Barclays lifted their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird decreased their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lifted 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. Finally, Evercore ISI reduced their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Seven 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $103.13 on Monday. The firm has a 50 day simple moving average of $98.67 and a 200-day simple moving average of $94.48. The stock has a market cap of $41.56 billion, a price-to-earnings ratio of 50.31, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand has a 1-year low of $69.46 and a 1-year high of $105.63.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction 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 transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. This represents a 54.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Institutional Trading of Ingersoll Rand

Large investors have recently made changes to their positions in the company. 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 valued at $2,484,486,000 after buying an additional 13,919,775 shares during the last quarter. FMR LLC increased its holdings in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after acquiring an additional 1,538,056 shares during the period. State Street Corp raised its position in Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after purchasing an additional 112,824 shares during the last quarter. Capital Research Global Investors boosted its stake in Ingersoll Rand by 15.3% during the 1st 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 period. Finally, Geode Capital Management LLC grew its position in Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares during the last quarter. 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.