The Goldman Sachs Group Raises Ingersoll Rand (NYSE:IR) Price Target to $121.00

Ingersoll Rand (NYSE:IR) had its price objective raised by equities research analysts at The Goldman Sachs Group from $109.00 to $121.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 19.68% from the stock’s previous close.

A number of other brokerages have also issued reports on IR. Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Barclays lifted their price objective on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Finally, Citigroup boosted their price target on Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.67.

Ingersoll Rand Price Performance

NYSE IR opened at $101.10 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The firm has a market capitalization of $40.74 billion, a price-to-earnings ratio of 49.32, a price-to-earnings-growth ratio of 3.86 and a beta of 1.42. The company has a 50 day simple moving average of $101.10 and a 200-day simple moving average of $95.73. Ingersoll Rand has a 52-week low of $74.01 and a 52-week high of $106.03.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently modified their holdings of IR. Sequoia Financial Advisors LLC increased its stake in Ingersoll Rand by 10.5% during the second quarter. Sequoia Financial Advisors LLC now owns 4,489 shares of the industrial products company’s stock valued at $408,000 after acquiring an additional 426 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Ingersoll Rand by 11.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,327 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 1,697 shares during the period. ORG Partners LLC acquired a new position in shares of Ingersoll Rand in the second quarter valued at $81,000. Envestnet Portfolio Solutions Inc. lifted its position in Ingersoll Rand by 10.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,913 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 645 shares during the period. Finally, Swedbank AB boosted its stake in Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after buying an additional 198,200 shares in the last quarter. Institutional investors and hedge funds 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.