Ingersoll Rand (NYSE:IR) Sets New 52-Week High at $70.50

Ingersoll Rand Inc. (NYSE:IR)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $70.50 and last traded at $70.48, with a volume of 49459 shares. The stock had previously closed at $69.97.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IR shares. Barclays lifted their price objective on shares of Ingersoll Rand from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Cfra lifted their price objective on shares of Ingersoll Rand from $60.00 to $66.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Robert W. Baird lifted their price target on shares of Ingersoll Rand from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $65.00 to $71.00 in a research note on Monday, July 10th. Finally, Morgan Stanley lifted their price target on shares of Ingersoll Rand from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Five 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Ingersoll Rand Stock Performance

The stock’s 50-day moving average price is $66.28 and its 200 day moving average price is $60.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.29 and a quick ratio of 1.62. The firm has a market cap of $28.15 billion, a P/E ratio of 40.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.11. Ingersoll Rand had a net margin of 10.89% and a return on equity of 11.20%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, equities analysts predict that Ingersoll Rand Inc. will post 2.63 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, August 22nd. Ingersoll Rand’s dividend payout ratio (DPR) is currently 4.65%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 27,169 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $65.00, for a total transaction of $1,765,985.00. Following the sale, the insider now directly owns 73,877 shares of the company’s stock, valued at $4,802,005. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Gary E. Gillespie sold 27,487 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $60.73, for a total value of $1,669,285.51. Following the transaction, the insider now directly owns 42,234 shares of the company’s stock, valued at $2,564,870.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vicente Reynal sold 27,169 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $65.00, for a total transaction of $1,765,985.00. Following the completion of the transaction, the insider now directly owns 73,877 shares in the company, valued at $4,802,005. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,659 shares of company stock valued at $3,685,458. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Large investors have recently modified their holdings of the stock. Barclays PLC raised its position in shares of Ingersoll Rand by 41.6% in the fourth quarter. Barclays PLC now owns 490,126 shares of the industrial products company’s stock valued at $25,608,000 after purchasing an additional 143,977 shares during the period. Aigen Investment Management LP acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at about $370,000. ING Groep NV acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at about $238,000. Desjardins Global Asset Management Inc. grew its stake in shares of Ingersoll Rand by 27.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,263 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 272 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Ingersoll Rand by 36.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 17,567 shares of the industrial products company’s stock valued at $918,000 after acquiring an additional 4,728 shares in the last quarter. 94.54% of the stock is owned by institutional investors.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.