Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $96.00

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

Other analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, February 18th. Citigroup decreased their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird raised 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. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.36.

Ingersoll Rand Stock Down 1.7 %

Ingersoll Rand stock opened at $81.48 on Monday. Ingersoll Rand has a fifty-two week low of $79.97 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a 50 day moving average price of $88.71 and a 200 day moving average price of $94.34. The company has a market capitalization of $32.84 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

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

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors and hedge funds have recently bought and sold shares of IR. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand in the third quarter valued at $34,000. Murphy & Mullick Capital Management Corp acquired a new position in Ingersoll Rand in the fourth quarter valued at $36,000. OFI Invest Asset Management acquired a new position in Ingersoll Rand in the fourth quarter valued at $38,000. Lee Danner & Bass Inc. acquired a new position in Ingersoll Rand in the fourth quarter valued at $42,000. Finally, Ancora Advisors LLC increased its stake in Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 294 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.