Stifel Nicolaus Downgrades Ingersoll Rand (NYSE:IR) to Hold

Ingersoll Rand (NYSE:IR) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Marketbeat.com reports. They presently have a $107.00 price target on the industrial products company’s stock, down from their previous price target of $112.00. Stifel Nicolaus’ price target would suggest a potential upside of 4.51% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Cfra raised their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.83.

Ingersoll Rand Trading Up 0.7 %

Shares of NYSE IR opened at $102.38 on Monday. Ingersoll Rand has a 1 year low of $69.46 and a 1 year high of $105.63. The stock has a market cap of $41.26 billion, a P/E ratio of 49.94, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. The firm has a 50-day moving average of $98.40 and a 200 day moving average of $94.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. The trade was a 54.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently modified their holdings of IR. Capital International Investors increased its stake in shares of Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. Capital World Investors bought a new position in Ingersoll Rand in the 1st quarter worth $440,401,000. FMR LLC boosted its holdings in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the period. Capital Research Global Investors boosted its holdings in Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after buying an additional 1,504,414 shares during the period. Finally, Swedbank AB bought a new position in Ingersoll Rand in the 1st quarter worth $55,310,000. 95.27% of the stock is currently 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.