Ingersoll Rand (NYSE:IR) Lowered to Hold Rating by Stifel Nicolaus

Stifel Nicolaus lowered shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a report published on Monday morning, MarketBeat Ratings reports. They currently have $107.00 target price on the industrial products company’s stock, down from their prior target price of $112.00.

A number of other analysts also recently commented on IR. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Barclays upped their target price on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $101.65 on Monday. The company has a market cap of $40.97 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. Ingersoll Rand has a one year low of $69.46 and a one year high of $105.63. The business has a fifty day moving average of $98.12 and a two-hundred day moving average of $94.31. 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 Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. This represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,660 shares of company stock valued at $1,348,834. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds have recently made changes to their positions in IR. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand in the second quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC boosted its position in Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Ingersoll Rand during the third quarter worth about $42,000. 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.