Ingersoll Rand Inc. (NYSE:IR) Receives $100.36 Consensus Target Price from Analysts

Ingersoll Rand Inc. (NYSE:IR) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $100.27.

A number of equities research analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective for the company. Evercore ISI cut their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The disclosure for this sale can be found here. Insiders have sold a total of 263,867 shares of company stock worth $23,494,392 in the last quarter. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Ingersoll Rand

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ingersoll Rand by 24.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock worth $46,948,000 after buying an additional 96,982 shares during the period. Nomura Holdings Inc. boosted its holdings in Ingersoll Rand by 3,010.2% in the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock valued at $16,340,000 after purchasing an additional 204,481 shares during the last quarter. Varenne Capital Partners acquired a new stake in Ingersoll Rand during the 4th quarter valued at approximately $1,693,000. Illinois Municipal Retirement Fund increased its holdings in Ingersoll Rand by 297.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 75,353 shares of the industrial products company’s stock worth $5,828,000 after purchasing an additional 56,394 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Ingersoll Rand in the 1st quarter valued at approximately $1,221,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 0.5 %

Shares of Ingersoll Rand stock opened at $90.50 on Friday. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.30. The company has a market cap of $36.51 billion, a P/E ratio of 45.02, a PEG ratio of 2.68 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.71 and a current ratio of 2.18. The firm has a fifty day moving average of $93.29 and a two-hundred day moving average of $91.87.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Ingersoll Rand declared that its board has authorized a share buyback program on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.