Ingersoll Rand (NYSE:IR) Price Target Lowered to $88.00 at Citigroup

Ingersoll Rand (NYSE:IR) had its target price reduced by Citigroup from $109.00 to $88.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts have also recently weighed in on IR. Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a report on Monday. Barclays lowered their price target on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Evercore ISI reduced their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $100.36.

Ingersoll Rand Stock Up 0.5 %

IR stock opened at $73.37 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The firm’s fifty day simple moving average is $81.56 and its 200-day simple moving average is $91.76. Ingersoll Rand has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a market capitalization of $29.57 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, equities research analysts forecast that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IR. Virtu Financial LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at $864,000. Pine Valley Investments Ltd Liability Co raised its holdings in Ingersoll Rand by 11.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 3,043 shares of the industrial products company’s stock valued at $299,000 after buying an additional 309 shares during the period. Sanctuary Advisors LLC lifted its position in Ingersoll Rand by 100.2% in the third quarter. Sanctuary Advisors LLC now owns 22,223 shares of the industrial products company’s stock valued at $2,311,000 after buying an additional 11,124 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Ingersoll Rand during the third quarter worth about $562,000. Finally, Franklin Resources Inc. increased its position in shares of Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after acquiring an additional 278,710 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.