Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $115.00

Ingersoll Rand (NYSE:IR) had its price target decreased by Barclays from $120.00 to $115.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

IR has been the subject of several other reports. The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Robert W. Baird reduced their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Citigroup raised their price target on shares of Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.83.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $87.08 on Wednesday. Ingersoll Rand has a 12-month low of $75.54 and a 12-month high of $106.03. The firm has a market capitalization of $35.09 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. The business has a 50 day simple moving average of $98.36 and a 200 day simple moving average of $95.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

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 0.09%. The ex-dividend date of this dividend was 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 the firm’s stock in a transaction on 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. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds and other institutional investors have recently made changes to their positions in IR. Wealthspire Advisors LLC raised its stake in Ingersoll Rand by 5.5% during the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 119 shares in the last quarter. Kanawha Capital Management LLC lifted its position in Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after purchasing an additional 119 shares during the period. Opal Wealth Advisors LLC boosted its stake in Ingersoll Rand by 6.0% in the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 121 shares during the last quarter. Asio Capital LLC boosted its position in shares of Ingersoll Rand by 0.3% in the 3rd quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company’s stock worth $4,327,000 after purchasing an additional 133 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in shares of Ingersoll Rand by 5.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,821 shares of the industrial products company’s stock worth $277,000 after buying an additional 144 shares during the period. 95.27% of the stock is owned by institutional investors.

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.