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

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

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday. Robert W. Baird lowered their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price target for the company from $112.00 to $107.00 in a report on Monday, November 18th. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.83.

Ingersoll Rand Trading Up 0.0 %

NYSE:IR opened at $89.19 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 52 week low of $74.58 and a 52 week high of $106.03. The stock has a market capitalization of $35.94 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 3.84 and a beta of 1.44. The firm has a 50 day moving average of $98.64 and a 200 day moving average of $95.78.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were paid a $0.02 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is presently 3.90%.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in Ingersoll Rand during the 2nd quarter valued at about $1,177,000. Caprock Group LLC raised its holdings in Ingersoll Rand by 28.8% during the 2nd quarter. Caprock Group LLC now owns 9,355 shares of the industrial products company’s stock worth $850,000 after purchasing an additional 2,093 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Ingersoll Rand during the 2nd quarter worth approximately $125,000. Wedbush Securities Inc. acquired a new stake in shares of Ingersoll Rand in the second quarter valued at approximately $598,000. Finally, Choreo LLC bought a new position in Ingersoll Rand during the second quarter worth $787,000. Hedge funds and other institutional investors 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.