Ingersoll Rand (NYSE:IR) Price Target Cut to $96.00 by Analysts at Barclays

Ingersoll Rand (NYSE:IR) had its price objective decreased by Barclays from $102.00 to $96.00 in a report released on Monday, MarketBeat reports. Barclays currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also commented on the company. The Goldman Sachs Group lifted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Robert W. Baird upped their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Citigroup cut their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Evercore ISI decreased their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.25.

Ingersoll Rand Stock Down 2.0 %

IR stock opened at $83.52 on Monday. The firm has a 50-day moving average price of $89.04 and a 200-day moving average price of $94.50. Ingersoll Rand has a 12 month low of $79.97 and a 12 month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $33.67 billion, a P/E ratio of 40.54, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, equities research analysts anticipate that Ingersoll Rand will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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 $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

Several institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Ingersoll Rand during the 4th quarter worth approximately $429,591,000. Capital International Investors raised its position in shares of Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares during the period. FMR LLC lifted its holdings in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. Finally, Franklin Resources Inc. grew its position in Ingersoll Rand by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock valued at $1,110,593,000 after purchasing an additional 679,856 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.