Ingersoll Rand (NYSE:IR) Price Target Lowered to $109.00 at Robert W. Baird

Ingersoll Rand (NYSE:IRFree Report) had its price objective trimmed by Robert W. Baird from $114.00 to $109.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on IR. Stifel Nicolaus lifted their target price on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays lifted their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Evercore ISI lowered their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Morgan Stanley began coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.67.

Read Our Latest Stock Analysis on IR

Ingersoll Rand Stock Up 1.6 %

IR traded up $1.53 during trading on Monday, hitting $96.14. The company had a trading volume of 131,877 shares, compared to its average volume of 2,530,964. The firm’s 50-day moving average price is $95.40 and its 200 day moving average price is $93.54. The company has a market capitalization of $38.79 billion, a PE ratio of 46.15, a PEG ratio of 2.57 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a one year low of $64.60 and a one year high of $102.74.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the 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 sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock worth $7,108,005 in the last quarter. 0.68% of the stock is owned by insiders.

Institutional Trading of Ingersoll Rand

Institutional investors have recently bought and sold shares of the company. Capital International Investors boosted its stake in Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares in the last quarter. Capital World Investors bought a new position in shares of Ingersoll Rand during the 1st quarter worth about $440,401,000. JPMorgan Chase & Co. grew its stake in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after buying an additional 3,535,543 shares during the period. Capital Research Global Investors increased its position in Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after buying an additional 1,504,414 shares in the last quarter. Finally, Swedbank AB acquired a new position in Ingersoll Rand during the 1st quarter worth approximately $55,310,000. Institutional investors own 95.27% of the company’s stock.

About Ingersoll Rand

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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.

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