Ingersoll Rand (NYSE:IR) Downgraded by StockNews.com

StockNews.com cut shares of Ingersoll Rand (NYSE:IR) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other brokerages have also weighed in on IR. Stifel Nicolaus restated a buy rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. UBS Group raised their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a buy rating in a research note on Monday, January 29th. Evercore ISI cut shares of Ingersoll Rand from an outperform rating to an in-line rating and raised their target price for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Finally, Cfra raised their price target on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a hold rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of Moderate Buy and an average price target of $92.73.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $93.50 on Thursday. The stock has a fifty day simple moving average of $91.70 and a two-hundred day simple moving average of $79.76. Ingersoll Rand has a 1-year low of $54.54 and a 1-year high of $96.17. The firm has a market cap of $37.72 billion, a price-to-earnings ratio of 49.21, a price-to-earnings-growth ratio of 3.26 and a beta of 1.44. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Analysts anticipate that Ingersoll Rand will post 3.1 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 4.21%.

Ingersoll Rand announced that its Board of Directors has approved a share repurchase program on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the sale, the insider now directly owns 48,904 shares in the company, valued at $4,398,914.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now directly owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock worth $26,374,789 over the last ninety days. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC increased its holdings in shares of Ingersoll Rand by 11.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 191 shares during the period. DAVENPORT & Co LLC lifted its position in Ingersoll Rand by 4.5% in the third quarter. DAVENPORT & Co LLC now owns 15,214 shares of the industrial products company’s stock worth $969,000 after purchasing an additional 658 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Ingersoll Rand during the third quarter valued at $308,000. Caprock Group LLC lifted its holdings in shares of Ingersoll Rand by 16.5% during the third quarter. Caprock Group LLC now owns 8,068 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 1,140 shares during the period. Finally, WASHINGTON TRUST Co increased its stake in shares of Ingersoll Rand by 39.3% in the third quarter. WASHINGTON TRUST Co now owns 921 shares of the industrial products company’s stock valued at $59,000 after buying an additional 260 shares in the last quarter. 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.