Ingersoll Rand (NYSE:IR) Price Target Lowered to $115.00 at Citigroup

Ingersoll Rand (NYSE:IR) had its price target trimmed by Citigroup from $119.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on IR. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird lowered their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Finally, Cfra lifted 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. Seven 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Ingersoll Rand Stock Up 1.1 %

NYSE:IR opened at $88.02 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 52 week low of $76.64 and a 52 week high of $106.03. The stock has a 50 day moving average of $98.23 and a 200-day moving average of $95.75. The firm has a market capitalization of $35.47 billion, a PE ratio of 42.94, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a $0.02 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at approximately $34,000. Eastern Bank acquired a new position in shares of Ingersoll Rand in the third quarter worth approximately $42,000. Kimelman & Baird LLC bought a new stake in shares of Ingersoll Rand in the 2nd quarter valued at $57,000. Versant Capital Management Inc grew its holdings in Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC bought a new stake in Ingersoll Rand in the third quarter worth approximately $65,000. 95.27% of the stock is currently 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.