Ingersoll Rand (NYSE:IR) Reaches New 52-Week High – Time to Buy?

Ingersoll Rand Inc. (NYSE:IR)’s share price hit a new 52-week high on Monday . The company traded as high as $105.78 and last traded at $105.75, with a volume of 804830 shares changing hands. The stock had previously closed at $104.00.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IR shares. Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price target for the company from $112.00 to $107.00 in a research note on Monday, November 18th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Finally, Morgan Stanley started coverage on 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Ingersoll Rand Stock Down 0.7 %

The firm has a market cap of $41.93 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 4.00 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. The business’s 50-day moving average is $99.91 and its 200-day moving average is $94.97.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction dated Tuesday, November 5th. The stock was 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 of the company’s stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new position in Ingersoll Rand in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand in the third quarter valued at about $34,000. EverSource Wealth Advisors LLC increased its position in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares during the period. UMB Bank n.a. raised its holdings in Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 309 shares during the last quarter. Finally, Eastern Bank acquired a new position in Ingersoll Rand during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

About Ingersoll Rand

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.