Ingersoll Rand (NYSE:IR) Reaches New 1-Year Low – Here’s What Happened

Ingersoll Rand Inc. (NYSE:IR)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $73.89 and last traded at $74.08, with a volume of 1377134 shares changing hands. The stock had previously closed at $81.70.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IR shares. Evercore ISI dropped their target price on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup dropped their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays reduced their price objective on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company lowered their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Price Performance

The firm has a 50 day moving average of $85.93 and a 200-day moving average of $93.50. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market cap of $29.67 billion, a P/E ratio of 35.69, a P/E/G ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a $0.02 dividend. 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 dividend payout ratio is currently 3.88%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Wealth Strategies & Associates raised its stake in Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 286 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Ingersoll Rand by 46.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,615 shares of the industrial products company’s stock valued at $1,865,000 after buying an additional 6,507 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Ingersoll Rand in the 4th quarter valued at about $11,694,000. Dogwood Wealth Management LLC grew its position in Ingersoll Rand by 10.7% in the fourth quarter. Dogwood Wealth Management LLC now owns 5,767 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 559 shares in the last quarter. Finally, Siemens Fonds Invest GmbH increased its stake in Ingersoll Rand by 243.7% during the fourth quarter. Siemens Fonds Invest GmbH now owns 15,221 shares of the industrial products company’s stock worth $1,377,000 after acquiring an additional 10,792 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

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.