Ingersoll Rand (NYSE:IR) Shares Gap Down on Disappointing Earnings

Ingersoll Rand Inc. (NYSE:IR) shares gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $92.55, but opened at $88.00. Ingersoll Rand shares last traded at $87.72, with a volume of 1,484,883 shares changing hands.

The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.88%.

Analyst Ratings Changes

IR has been the subject of a number of analyst reports. UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup cut their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Robert W. Baird cut their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.92.

Institutional Investors Weigh In On Ingersoll Rand

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Ingersoll Rand during the third quarter valued at approximately $34,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $36,000. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $38,000. Eastern Bank bought a new stake in shares of Ingersoll Rand during the third quarter valued at approximately $42,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

The stock has a fifty day moving average price of $93.08 and a two-hundred day moving average price of $95.27. The company has a market cap of $34.58 billion, a P/E ratio of 41.85, a PEG ratio of 3.66 and a beta of 1.43. 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 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.