Ingersoll Rand (NYSE:IR) Given New $111.00 Price Target at Robert W. Baird

Ingersoll Rand (NYSE:IR) had its price objective increased by Robert W. Baird from $105.00 to $111.00 in a research report report published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. The Goldman Sachs Group raised their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Citigroup dropped their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Stifel Nicolaus decreased their price target on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.50.

Ingersoll Rand Trading Up 1.1 %

Shares of IR stock opened at $86.66 on Tuesday. The stock has a market capitalization of $34.92 billion, a P/E ratio of 42.27, a P/E/G ratio of 3.66 and a beta of 1.43. 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 12-month low of $83.72 and a 12-month high of $106.03. The firm’s 50 day moving average is $92.41 and its 200 day moving average is $95.08.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) 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%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Research analysts expect that Ingersoll Rand will post 3.2 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.90%.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently bought and sold shares of IR. Savant Capital LLC increased its stake in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 158 shares in the last quarter. Virtu Financial LLC purchased a new stake in Ingersoll Rand in the 3rd quarter valued at $864,000. Nordea Investment Management AB raised its stake in Ingersoll Rand by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after purchasing an additional 271,381 shares during the period. Daiwa Securities Group Inc. grew its position in Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after acquiring an additional 7,784 shares during the period. Finally, abrdn plc increased its stake in Ingersoll Rand by 70.5% during the fourth quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock worth $23,851,000 after acquiring an additional 108,700 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.