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

Shares of Ingersoll Rand Inc. (NYSE:IR) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $103.83.

Several analysts have weighed in on the company. Barclays lifted their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Evercore ISI decreased their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Cfra increased their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand 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 sale, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. This trade represents a 54.73 % 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

Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new position in Ingersoll Rand in the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ingersoll Rand in the 3rd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Ingersoll Rand by 196.8% in the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares during the period. Finally, Eastern Bank purchased a new position in Ingersoll Rand in the 3rd quarter valued at approximately $42,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $104.00 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand has a one year low of $69.46 and a one year high of $105.63. The business’s 50 day simple moving average is $99.20 and its two-hundred day simple moving average is $94.68. The stock has a market capitalization of $41.91 billion, a P/E ratio of 50.73, a price-to-earnings-growth ratio of 3.91 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

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.