StockNews.com Begins Coverage on Ingersoll Rand (NYSE:IR)

StockNews.com initiated coverage on shares of Ingersoll Rand (NYSE:IR – Get Rating) in a research note released on Thursday morning. The brokerage issued a buy rating on the industrial products company’s stock.

IR has been the subject of a number of other research reports. Morgan Stanley raised their price objective on shares of Ingersoll Rand from $57.00 to $62.00 and gave the company an overweight rating in a report on Wednesday, February 22nd. Citigroup raised their price objective on shares of Ingersoll Rand from $57.00 to $62.00 and gave the stock a buy rating in a research report on Friday, December 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ingersoll Rand from $53.00 to $55.00 in a research report on Wednesday, February 22nd. Barclays increased their target price on Ingersoll Rand from $60.00 to $64.00 and gave the stock an overweight rating in a report on Wednesday, February 22nd. Finally, Wells Fargo & Company raised their price objective on Ingersoll Rand from $60.00 to $62.00 and gave the company an overweight rating in a research note on Thursday, January 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $58.50.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $52.46 on Thursday. The company’s fifty day simple moving average is $56.73 and its 200-day simple moving average is $52.51. The company has a quick ratio of 1.76, a current ratio of 2.37 and a debt-to-equity ratio of 0.29. The firm has a market cap of $21.24 billion, a PE ratio of 35.45 and a beta of 1.43. Ingersoll Rand has a 12 month low of $39.28 and a 12 month high of $60.39.

Ingersoll Rand (NYSE:IR – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. Ingersoll Rand had a net margin of 10.22% and a return on equity of 9.99%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. Ingersoll Rand’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts expect that Ingersoll Rand will post 2.31 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Wednesday, March 1st will be issued a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Ingersoll Rand’s dividend payout ratio (DPR) is 5.41%.

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 25,000 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $57.50, for a total transaction of $1,437,500.00. Following the completion of the transaction, the insider now directly owns 189,345 shares in the company, valued at $10,887,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $57.50, for a total value of $1,437,500.00. Following the transaction, the insider now directly owns 189,345 shares of the company’s stock, valued at $10,887,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Scheske sold 1,742 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $57.00, for a total value of $99,294.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,112 shares in the company, valued at $405,384. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,742 shares of company stock worth $3,036,794. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Ingersoll Rand by 15.9% in the 4th quarter. Victory Capital Management Inc. now owns 207,142 shares of the industrial products company’s stock worth $10,823,000 after acquiring an additional 28,479 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Ingersoll Rand by 172.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 28,572 shares of the industrial products company’s stock valued at $1,492,000 after acquiring an additional 18,077 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Ingersoll Rand by 1.4% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 568,636 shares of the industrial products company’s stock worth $29,711,000 after buying an additional 7,954 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Ingersoll Rand by 7.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,258 shares of the industrial products company’s stock worth $849,000 after buying an additional 1,154 shares during the period. Finally, National Pension Service lifted its holdings in shares of Ingersoll Rand by 0.4% in the 4th quarter. National Pension Service now owns 559,094 shares of the industrial products company’s stock worth $29,213,000 after buying an additional 1,999 shares during the period. Institutional investors own 99.73% of the company’s stock.

Ingersoll Rand Company Profile

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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.