Ingersoll Rand (NYSE:IR) Reaches New 1-Year High – Time to Buy?

Ingersoll Rand Inc. (NYSE:IR) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $105.78 and last traded at $105.75, with a volume of 804830 shares trading hands. The stock had previously closed at $104.00.

Analyst Upgrades and Downgrades

IR has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Robert W. Baird cut their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. UBS Group assumed coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Finally, Stifel Nicolaus downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their target price for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Ingersoll Rand Stock Performance

The firm’s 50 day moving average is $99.20 and its 200 day moving average is $94.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a market cap of $42.46 billion, a P/E ratio of 50.73, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a $0.02 dividend. 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 dividend payout ratio (DPR) is presently 3.90%.

Insiders Place Their Bets

In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. This trade represents a 54.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value 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. This represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IR. Wilmington Savings Fund Society FSB acquired a new position in Ingersoll Rand in the third quarter valued at approximately $562,000. Sanctuary Advisors LLC lifted its stake in shares of Ingersoll Rand by 100.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 22,223 shares of the industrial products company’s stock valued at $2,311,000 after purchasing an additional 11,124 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in Ingersoll Rand by 11.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 3,043 shares of the industrial products company’s stock worth $299,000 after buying an additional 309 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ingersoll Rand during the third quarter valued at $864,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Ingersoll Rand by 28.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 221,919 shares of the industrial products company’s stock valued at $21,783,000 after buying an additional 48,975 shares in the last quarter. 95.27% of the stock is 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.