Ingersoll Rand (NYSE:IR) Lifted to Hold at Wolfe Research

Ingersoll Rand (NYSE:IR) was upgraded by equities research analysts at Wolfe Research to a “hold” rating in a report issued on Friday, Zacks.com reports.

IR has been the subject of several other reports. Barclays lowered their target price on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Evercore ISI reduced their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Ingersoll Rand Stock Up 0.7 %

Shares of IR opened at $97.47 on Friday. The company’s 50-day simple moving average is $92.44 and its 200-day simple moving average is $92.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. Ingersoll Rand has a 1 year low of $59.20 and a 1 year high of $101.30. The stock has a market capitalization of $39.32 billion, a PE ratio of 48.49, a P/E/G ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Analysts forecast that Ingersoll Rand will post 3.21 earnings per share for the current fiscal year.

Insider Transactions at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Kathleen M. Keene sold 4,629 shares of the 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 owns 3,829 shares in the company, valued at approximately $344,571.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the transaction, the insider now owns 6,559 shares in the company, valued at $599,623.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

A number of hedge funds have recently added to or reduced their stakes in IR. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand in the 4th quarter valued at $28,000. Headlands Technologies LLC purchased a new position in Ingersoll Rand during the 1st quarter worth $28,000. Riverview Trust Co acquired a new stake in shares of Ingersoll Rand in the 1st quarter worth $29,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $32,000. 95.27% of the stock is 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.