Ingersoll Rand (NYSE:IR) Price Target Raised to $121.00

Ingersoll Rand (NYSE:IR) had its price target raised by The Goldman Sachs Group from $109.00 to $121.00 in a research note published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on IR. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. 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. Citigroup raised their price target on Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays upped their price objective on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.67.

Ingersoll Rand Stock Down 0.3 %

Ingersoll Rand stock opened at $101.42 on Thursday. The company has a market capitalization of $40.87 billion, a P/E ratio of 49.47, a PEG ratio of 3.86 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 $73.52 and a fifty-two week high of $106.03. The stock has a 50-day simple moving average of $101.10 and a 200-day simple moving average of $95.69.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were issued 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 was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Insiders Place Their Bets

In other news, 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 owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB grew its position in shares of Ingersoll Rand by 34.0% in the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after purchasing an additional 198,200 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after buying an additional 7,784 shares during the last quarter. GDS Wealth Management lifted its stake in shares of Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after buying an additional 10,081 shares during the period. Intech Investment Management LLC grew its stake in Ingersoll Rand by 28.2% in the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock worth $9,987,000 after acquiring an additional 22,401 shares during the period. Finally, AXA S.A. lifted its stake in shares of Ingersoll Rand by 81.4% during the 2nd quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock worth $7,978,000 after purchasing an additional 39,417 shares during the period. 95.27% of the stock is currently 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.