Barclays Boosts Ingersoll Rand (NYSE:IR) Price Target to $106.00

Ingersoll Rand (NYSE:IR) had its price target boosted by Barclays from $104.00 to $106.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

IR has been the subject of several other reports. Wells Fargo & Company raised their target price on Ingersoll Rand from $98.00 to $102.00 and gave the company an overweight rating in a research report on Wednesday. StockNews.com downgraded shares of Ingersoll Rand from a buy rating to a hold rating in a report on Saturday, May 4th. BNP Paribas started coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a neutral rating and a $92.00 target price for the company. Robert W. Baird upped their price target on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an outperform rating in a research note on Monday, May 6th. Finally, Citigroup lifted their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a buy rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $97.50.

Ingersoll Rand Trading Up 1.8 %

Shares of Ingersoll Rand stock opened at $97.26 on Wednesday. The stock has a market capitalization of $39.24 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 2.75 and a beta of 1.45. Ingersoll Rand has a 52 week low of $59.20 and a 52 week high of $98.28. The stock has a 50 day moving average price of $92.16 and a two-hundred day moving average price of $88.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. As a group, equities analysts anticipate that Ingersoll Rand will post 3.19 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has approved a share buyback program on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Institutional investors have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Ingersoll Rand in the fourth quarter worth approximately $28,000. Headlands Technologies LLC purchased a new position in shares of Ingersoll Rand in the first quarter worth $28,000. Riverview Trust Co bought a new stake in Ingersoll Rand during the 1st quarter valued at $29,000. Finally, Scarborough Advisors LLC purchased a new stake in Ingersoll Rand during the 4th quarter valued at $32,000. 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.