Ingersoll Rand (NYSE:IR) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of Ingersoll Rand (NYSE:IR) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $124.00 price target on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company increased their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Evercore ISI reduced their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley initiated coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.25.

Ingersoll Rand Stock Up 0.6 %

Ingersoll Rand stock opened at $105.00 on Wednesday. The stock has a 50-day simple moving average of $97.21 and a 200-day simple moving average of $94.11. The company has a market capitalization of $42.32 billion, a P/E ratio of 50.90, a PEG ratio of 3.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand has a fifty-two week low of $69.29 and a fifty-two week high of $105.63.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Activity

In related 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 transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,660 shares of company stock worth $1,348,834 over the last ninety days. 0.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Northwest & Ethical Investments L.P. lifted its holdings in shares of Ingersoll Rand by 2.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 35,351 shares of the industrial products company’s stock worth $3,470,000 after acquiring an additional 728 shares during the period. PEAK6 Investments LLC raised its stake in Ingersoll Rand by 5.8% during the third quarter. PEAK6 Investments LLC now owns 19,038 shares of the industrial products company’s stock worth $1,869,000 after purchasing an additional 1,038 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Ingersoll Rand by 13.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company’s stock valued at $1,725,000 after purchasing an additional 2,100 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter valued at $2,145,000. Finally, Avestar Capital LLC increased its holdings in shares of Ingersoll Rand by 11.2% during the 3rd quarter. Avestar Capital LLC now owns 3,278 shares of the industrial products company’s stock worth $322,000 after buying an additional 329 shares during the last quarter. Hedge funds and other institutional investors 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.