Robert W. Baird Has Lowered Expectations for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its target price cut by Robert W. Baird from $114.00 to $109.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the company. Evercore ISI cut their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Wells Fargo & Company boosted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Barclays increased their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Ingersoll Rand Trading Up 0.5 %

NYSE IR opened at $103.53 on Monday. The business’s fifty day moving average is $95.81 and its 200-day moving average is $93.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The stock has a market capitalization of $41.72 billion, a price-to-earnings ratio of 50.50, a PEG ratio of 2.59 and a beta of 1.42. Ingersoll Rand has a one year low of $65.50 and a one year high of $103.96.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,660 shares of company stock valued at $5,974,334 over the last 90 days. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently bought and sold shares of IR. Wealthspire Advisors LLC increased its position in shares of Ingersoll Rand by 5.5% during the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 119 shares during the period. Kanawha Capital Management LLC increased its holdings in Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after purchasing an additional 119 shares during the period. Opal Wealth Advisors LLC raised its position in Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 121 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after buying an additional 126 shares during the period. Finally, Resonant Capital Advisors LLC grew its position in shares of Ingersoll Rand by 4.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock worth $300,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.