Wells Fargo & Company Issues Positive Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price target raised by Wells Fargo & Company from $80.00 to $86.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also commented on the stock. Robert W. Baird boosted their price target 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. Stifel Nicolaus dropped their target price on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Barclays reduced their price target on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Citigroup dropped their price objective on Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Evercore ISI reduced their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.91.

Ingersoll Rand Stock Performance

Shares of NYSE:IR opened at $76.97 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market cap of $31.02 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 3.50 and a beta of 1.40. The firm’s 50 day simple moving average is $77.44 and its 200-day simple moving average is $89.03. Ingersoll Rand has a one year low of $65.61 and a one year high of $106.03.

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

Ingersoll Rand Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand’s payout ratio is 3.88%.

Ingersoll Rand declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Ingersoll Rand

Several large investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC lifted its stake in shares of Ingersoll Rand by 4.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock worth $218,000 after buying an additional 109 shares during the period. UMB Bank n.a. lifted its position in Ingersoll Rand by 27.0% during the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 127 shares during the period. RDA Financial Network grew its stake in Ingersoll Rand by 3.1% during the 4th quarter. RDA Financial Network now owns 4,324 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 128 shares during the last quarter. FSM Wealth Advisors LLC increased its holdings in shares of Ingersoll Rand by 5.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 134 shares during the period. Finally, Park Avenue Securities LLC boosted its position in Ingersoll Rand by 3.3% in the fourth quarter. Park Avenue Securities LLC now owns 4,288 shares of the industrial products company’s stock valued at $388,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.