Stifel Nicolaus Cuts Ingersoll Rand (NYSE:IR) Price Target to $100.00

Ingersoll Rand (NYSE:IR) had its price objective decreased by Stifel Nicolaus from $107.00 to $100.00 in a research note published on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Several other research firms have also weighed in on IR. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Robert W. Baird decreased their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.92.

Ingersoll Rand Stock Performance

Shares of IR opened at $93.11 on Friday. Ingersoll Rand has a twelve month low of $78.69 and a twelve month high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The firm’s 50 day moving average price is $96.32 and its two-hundred day moving average price is $95.80. The firm has a market cap of $37.53 billion, a P/E ratio of 45.42, a PEG ratio of 3.73 and a beta of 1.44.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand 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 completion of the transaction, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors and hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its holdings in shares of Ingersoll Rand by 4.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,438 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 109 shares during the period. Kanawha Capital Management LLC lifted its stake in Ingersoll Rand by 2.4% in the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after acquiring an additional 119 shares during the period. Opal Wealth Advisors LLC grew its stake in Ingersoll Rand by 6.0% in the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 121 shares during the last quarter. UMB Bank n.a. grew its holdings in Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares during the last quarter. Finally, RDA Financial Network raised its position in shares of Ingersoll Rand by 3.1% in 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. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Company Profile

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.