Ingersoll Rand (NYSE:IR) Price Target Raised to $91.00 at Citigroup

Ingersoll Rand (NYSE:IR) had its price target increased by Citigroup from $88.00 to $91.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

IR has been the subject of several other reports. Robert W. Baird upped their target price on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on Ingersoll Rand from $80.00 to $86.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI cut their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Barclays cut their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.91.

Ingersoll Rand Stock Up 0.3 %

IR opened at $76.97 on Monday. The firm has a market capitalization of $31.02 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. Ingersoll Rand has a one year low of $65.61 and a one year high of $106.03. The company has a fifty day moving average price of $77.44 and a 200-day moving average price of $89.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. Equities research analysts expect that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IR. B. Riley Wealth Advisors Inc. raised its holdings in shares of Ingersoll Rand by 58.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 5,728 shares of the industrial products company’s stock valued at $564,000 after acquiring an additional 2,122 shares in the last quarter. Principal Financial Group Inc. increased its position in Ingersoll Rand by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 467,439 shares of the industrial products company’s stock valued at $45,884,000 after purchasing an additional 3,165 shares during the period. JPMorgan Chase & Co. raised its holdings in Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 589 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Ingersoll Rand by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. 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.