Ingersoll Rand (NYSE:IR) Price Target Cut to $109.00 by Analysts at Robert W. Baird

Ingersoll Rand (NYSE:IR) had its target price reduced by Robert W. Baird from $114.00 to $109.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price target would indicate a potential upside of 15.99% from the stock’s current price.

IR has been the topic of several other research reports. Wells Fargo & Company increased their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Evercore ISI decreased their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Stifel Nicolaus raised their price target on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Cfra upped 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. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $101.67.

Ingersoll Rand Trading Down 2.1 %

Shares of NYSE IR opened at $93.97 on Monday. Ingersoll Rand has a 1-year low of $62.12 and a 1-year high of $102.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The business’s 50 day moving average is $95.32 and its two-hundred day moving average is $93.50. The stock has a market capitalization of $37.92 billion, a P/E ratio of 45.84, a PEG ratio of 2.63 and a beta of 1.42.

Insider Buying and Selling

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 Investors Weigh In On Ingersoll Rand

A number of large investors have recently modified their holdings of the business. Ridgewood Investments LLC purchased a new stake in Ingersoll Rand during the 2nd quarter worth approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of Ingersoll Rand during the first quarter valued at $28,000. ESL Trust Services LLC acquired a new position in shares of Ingersoll Rand in the 1st quarter valued at $35,000. Eastern Bank acquired a new stake in Ingersoll Rand during the 3rd quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC grew its stake in Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.