Ingersoll Rand (NYSE:IR) Given New $85.00 Price Target at Barclays

Ingersoll Rand (NYSE:IR) had its price objective trimmed by Barclays from $93.00 to $85.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the company. Robert W. Baird increased their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Citigroup lowered their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Evercore ISI dropped their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.36.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $70.92 on Thursday. The firm has a market cap of $28.59 billion, a PE ratio of 34.43, a P/E/G ratio of 3.50 and a beta of 1.40. The business has a 50-day moving average price of $82.33 and a 200 day moving average price of $92.11. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a twelve month low of $65.61 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Sell-side analysts predict that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand’s payout ratio is currently 3.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IR. Vanguard Group Inc. lifted its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after buying an additional 446,591 shares during the last quarter. Capital International Investors raised its stake in Ingersoll Rand by 4.6% during the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock worth $3,317,537,000 after acquiring an additional 1,606,363 shares in the last quarter. Capital World Investors lifted its position in Ingersoll Rand by 1.0% in the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company’s stock valued at $1,817,238,000 after acquiring an additional 197,711 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ingersoll Rand by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company’s stock valued at $1,707,729,000 after acquiring an additional 649,102 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company’s stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares during the last quarter. 95.27% of the stock is 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.