Ingersoll Rand (NYSE:IR) Shares Gap Down – Here’s Why

Ingersoll Rand Inc. (NYSE:IR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $96.00, but opened at $94.00. Ingersoll Rand shares last traded at $95.20, with a volume of 463,514 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. 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. Cfra upped their price target on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.17.

Ingersoll Rand Trading Up 0.3 %

The company has a market cap of $38.86 billion, a PE ratio of 47.52, a PEG ratio of 2.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The company has a 50 day simple moving average of $95.27 and a two-hundred day simple moving average of $93.44.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Sell-side analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.96%.

Insider Activity

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at $599,623.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock worth $7,108,005 in the last three months. 0.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in Ingersoll Rand during the second quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in Ingersoll Rand in the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new stake in Ingersoll Rand in the first quarter valued at $35,000. EverSource Wealth Advisors LLC raised its stake in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.