Citigroup Lowers Ingersoll Rand (NYSE:IR) Price Target to $115.00

Ingersoll Rand (NYSE:IR) had its price target reduced by Citigroup from $119.00 to $115.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on the stock. Barclays decreased their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and decreased their price objective for the company from $112.00 to $107.00 in a report on Monday, November 18th. Cfra increased their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Ingersoll Rand Stock Up 1.1 %

IR opened at $88.02 on Monday. 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 has a 12 month low of $76.64 and a 12 month high of $106.03. The company has a market cap of $35.47 billion, a PE ratio of 42.94, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. The company has a 50 day moving average of $98.23 and a 200 day moving average of $95.75.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Large investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in Ingersoll Rand in the 3rd quarter worth about $34,000. Eastern Bank purchased a new position in shares of Ingersoll Rand in the 3rd quarter valued at $42,000. Kimelman & Baird LLC acquired a new position in shares of Ingersoll Rand during the second quarter worth about $57,000. Princeton Global Asset Management LLC acquired a new stake in Ingersoll Rand in the third quarter valued at approximately $65,000. Finally, Versant Capital Management Inc increased its stake in Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after buying an additional 589 shares during the period. Institutional investors and hedge funds 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.