Ingersoll Rand Inc. (NYSE:IR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Ingersoll Rand Inc. (NYSE:IR) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $103.83.

A number of analysts have weighed in on IR shares. Wells Fargo & Company raised their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Evercore ISI cut their target price on 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. Barclays upped their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Finally, Cfra upped their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th.

Insider Activity

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the business’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 transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The trade was a 54.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IR. FMR LLC raised its stake in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the last quarter. State Street Corp increased its holdings in Ingersoll Rand by 0.7% during 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 acquiring an additional 112,824 shares in the last quarter. Geode Capital Management LLC raised its position in Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after acquiring an additional 54,952 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Ingersoll Rand by 1.7% in the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock valued at $662,074,000 after purchasing an additional 114,727 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after purchasing an additional 224,463 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

Shares of IR opened at $104.00 on Friday. The firm has a market capitalization of $41.91 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 3.91 and a beta of 1.42. The firm’s fifty day simple moving average is $99.20 and its 200-day simple moving average is $94.68. Ingersoll Rand has a twelve month low of $69.46 and a twelve month high of $105.63. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders 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 yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

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.