Ingersoll Rand (NYSE:IR) Given New $109.00 Price Target at Robert W. Baird

Ingersoll Rand (NYSE:IR) had its price target lifted by Robert W. Baird from $107.00 to $109.00 in a research note released on Monday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

IR has been the subject of a number of other research reports. Citigroup upped their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a buy rating in a research report on Monday, April 8th. Barclays lifted their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Stifel Nicolaus restated a buy rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. UBS Group upped their price target on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a buy rating in a report on Monday, January 29th. Finally, Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an overweight rating 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 stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of Moderate Buy and a consensus target price of $95.82.

Ingersoll Rand Trading Down 0.3 %

Shares of Ingersoll Rand stock traded down $0.28 on Monday, hitting $88.20. 115,415 shares of the company’s stock traded hands, compared to its average volume of 2,550,277. The firm’s 50-day moving average price is $91.91 and its two-hundred day moving average price is $81.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The stock has a market capitalization of $35.59 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40. Ingersoll Rand has a one year low of $56.49 and a one year high of $96.17.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. On average, research analysts expect that Ingersoll Rand will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand declared that its board has initiated a share repurchase program on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

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