Ingersoll Rand (NYSE:IR) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other research firms also recently issued reports on IR. UBS Group boosted their price target on Ingersoll Rand from $78.00 to $93.00 and gave the company a buy rating in a research report on Monday, January 29th. Stifel Nicolaus reiterated a buy rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a buy rating in a report on Wednesday, February 21st. BNP Paribas initiated coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They issued a neutral rating and a $92.00 price objective on the stock. Finally, Evercore ISI cut Ingersoll Rand from an outperform rating to an in-line rating and upped their price target for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $92.73.

Ingersoll Rand Trading Down 6.6 %

NYSE:IR traded down $6.13 during mid-day trading on Friday, reaching $86.72. The company’s stock had a trading volume of 6,849,021 shares, compared to its average volume of 2,315,355. Ingersoll Rand has a twelve month low of $56.49 and a twelve month high of $96.17. The company’s fifty day simple moving average is $91.96 and its two-hundred day simple moving average is $80.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The stock has a market cap of $34.99 billion, a P/E ratio of 43.14, a P/E/G ratio of 3.02 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.66%. On average, equities analysts predict that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock worth $26,374,789 over the last ninety days. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors have recently added to or reduced their stakes in IR. Riverview Trust Co bought a new position in shares of Ingersoll Rand during the 1st quarter valued at about $29,000. ANTIPODES PARTNERS Ltd bought a new stake in Ingersoll Rand during the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand in the fourth quarter worth approximately $28,000. Scarborough Advisors LLC bought a new position in shares of Ingersoll Rand in the fourth quarter valued at $32,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand during the 3rd quarter valued at $25,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.