Ingersoll Rand Inc. (NYSE:IR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Ingersoll Rand Inc. (NYSE:IR) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $95.82.

IR has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $81.00 to $89.00 in a research report on Tuesday, February 20th. Citigroup upped their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $89.85 on Wednesday. The firm has a market capitalization of $36.26 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40. Ingersoll Rand has a 12-month low of $56.49 and a 12-month high of $96.17. The firm has a 50-day moving average price of $91.90 and a 200-day moving average price of $81.21. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. As a group, equities research analysts forecast that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed 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. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingersoll Rand

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

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.