Ingersoll Rand (NYSE:IR) Price Target Increased to $102.00 by Analysts at Wells Fargo & Company

Ingersoll Rand (NYSE:IRFree Report) had its price target raised by Wells Fargo & Company from $98.00 to $102.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Ingersoll Rand from a buy rating to a hold rating in a research report on Saturday, May 4th. Stifel Nicolaus reissued a buy rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Jefferies Financial Group started coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a buy rating and a $110.00 price objective for the company. Robert W. Baird upped their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the stock an outperform rating in a research report on Monday, May 6th. Finally, BNP Paribas started coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They set a neutral rating and a $92.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $97.33.

View Our Latest Analysis on IR

Ingersoll Rand Stock Up 2.9 %

Shares of NYSE IR opened at $94.38 on Wednesday. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $96.67. The company has a market capitalization of $38.08 billion, a PE ratio of 46.96, a price-to-earnings-growth ratio of 2.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The firm’s 50-day moving average is $91.90 and its two-hundred day moving average is $88.51.

Ingersoll Rand (NYSE:IRGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. Equities analysts anticipate that Ingersoll Rand will post 3.19 EPS for the current fiscal year.

Ingersoll Rand announced that its board has initiated a stock repurchase program on Thursday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s payout ratio is currently 3.98%.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the sale, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. 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 198,486 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its stake in Ingersoll Rand by 3,010.2% during the 4th quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock valued at $16,340,000 after acquiring an additional 204,481 shares during the last quarter. Varenne Capital Partners bought a new position in Ingersoll Rand during the 4th quarter valued at $1,693,000. Illinois Municipal Retirement Fund boosted its stake in Ingersoll Rand by 297.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock valued at $5,828,000 after acquiring an additional 56,394 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new position in Ingersoll Rand during the 1st quarter valued at $1,221,000. Finally, Arrow Financial Corp boosted its stake in Ingersoll Rand by 59.7% during the 4th quarter. Arrow Financial Corp now owns 23,143 shares of the industrial products company’s stock valued at $1,790,000 after acquiring an additional 8,649 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

About Ingersoll Rand

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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.

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Analyst Recommendations for Ingersoll Rand (NYSE:IR)

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