StockNews.com Lowers Ingersoll Rand (NYSE:IR) to Hold

StockNews.com downgraded shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a report published on Thursday.

Several other analysts also recently commented on IR. Citigroup upped their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a buy rating in a research note on Monday, April 8th. Wells Fargo & Company upped their price target on Ingersoll Rand from $83.00 to $100.00 and gave the stock an overweight rating in a research note on Tuesday, February 20th. Stifel Nicolaus reissued a buy rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Evercore ISI lowered Ingersoll Rand from an outperform rating to an in-line rating and boosted their price target for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Finally, Barclays boosted their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $92.73.

Ingersoll Rand Price Performance

IR stock opened at $93.50 on Thursday. The business has a 50 day simple moving average of $91.70 and a 200-day simple moving average of $79.86. The company has a market capitalization of $37.72 billion, a P/E ratio of 49.21, a PEG ratio of 3.26 and a beta of 1.44. Ingersoll Rand has a twelve month low of $54.54 and a twelve month high of $96.17. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, equities analysts anticipate that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand announced that its board has authorized a stock repurchase program on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 4.21%.

Insider Activity

In related news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the completion of the transaction, the insider now directly owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at about $25,000. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand during the fourth quarter valued at approximately $27,000. Quintet Private Bank Europe S.A. acquired a new position in Ingersoll Rand in the 3rd quarter valued at approximately $28,000. Kapitalo Investimentos Ltda purchased a new stake in Ingersoll Rand in the 4th quarter worth approximately $28,000. Finally, Riverview Trust Co purchased a new position in shares of Ingersoll Rand during the 1st quarter valued at $29,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.