Ingersoll Rand (NYSE:IR) PT Raised to $95.00 at Cfra

Ingersoll Rand (NYSE:IR) had its price objective hoisted by equities researchers at Cfra from $85.00 to $95.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Cfra’s target price points to a potential downside of 6.06% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Robert W. Baird lifted their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company cut their price target 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. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley began coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $101.17.

Ingersoll Rand Stock Performance

Shares of IR opened at $101.13 on Friday. 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 stock has a 50-day moving average of $92.42 and a 200-day moving average of $92.78. The company has a market cap of $40.80 billion, a PE ratio of 50.31, a P/E/G ratio of 2.75 and a beta of 1.42. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.30.

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

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the transaction, the insider now directly owns 6,559 shares in the company, valued at approximately $599,623.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Greenleaf Trust grew its position in shares of Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares in the last quarter. Wealthspire Advisors LLC grew its position in shares of Ingersoll Rand by 5.5% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 119 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares in the last quarter. Resonant Capital Advisors LLC grew its position in shares of Ingersoll Rand by 4.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Ingersoll Rand by 28.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 141 shares in the last quarter. 95.27% of the stock is currently 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.