Ingersoll Rand Inc. (NYSE:IR) Receives Average Rating of “Moderate Buy” from Brokerages

Ingersoll Rand Inc. (NYSE:IR) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $98.70.

IR has been the topic of a number of recent analyst reports. Barclays reduced their price objective on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Citigroup boosted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company boosted their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st.

Insider Transactions at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the sale, the insider owned 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 38,657 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the completion of the sale, the insider owned 193,186 shares of the company’s stock, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC increased its holdings in Ingersoll Rand by 62.8% in the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand in the fourth quarter worth about $36,000. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 313 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR stock opened at $87.01 on Monday. The stock’s fifty day simple moving average is $81.60 and its 200 day simple moving average is $83.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. The firm has a market cap of $35.10 billion, a price-to-earnings ratio of 43.07, a P/E/G ratio of 3.67 and a beta of 1.43. Ingersoll Rand has a one year low of $65.61 and a one year high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. Ingersoll Rand’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. On average, analysts expect that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand announced that its board has approved a share repurchase 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 buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.