Ingersoll Rand (NYSE:IR) Coverage Initiated by Analysts at Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of Ingersoll Rand (NYSE:IR) in a report issued on Friday, Briefing.com reports. The firm set an “equal weight” rating and a $97.00 price target on the industrial products company’s stock. Morgan Stanley’s target price would indicate a potential upside of 10.72% from the company’s current price.

A number of other research firms have also commented on IR. Barclays lowered their price objective on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective on the stock. Wells Fargo & Company decreased their target price on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Cfra restated a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Ingersoll Rand Trading Up 0.4 %

NYSE:IR opened at $87.61 on Friday. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $101.30. The firm has a market capitalization of $35.34 billion, a P/E ratio of 43.59, a P/E/G ratio of 2.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The business has a 50 day simple moving average of $92.65 and a 200 day simple moving average of $92.15.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Equities research analysts predict that Ingersoll Rand will post 3.21 EPS for the current year.

Insiders Place Their Bets

In related news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total value of $685,650.00. Following the transaction, the insider now owns 6,559 shares in the company, valued at $599,623.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several large investors have recently made changes to their positions in IR. Greenleaf Trust lifted its stake in Ingersoll Rand by 2.0% in the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after acquiring an additional 118 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 119 shares in the last quarter. Spire Wealth Management boosted its holdings in Ingersoll Rand by 8.5% in the first quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 126 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in shares of Ingersoll Rand by 4.2% in the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock worth $300,000 after buying an additional 133 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

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.