Ingersoll Rand (NYSE:IR) Price Target Cut to $91.00 by Analysts at Evercore ISI

Ingersoll Rand (NYSE:IR) had its target price decreased by Evercore ISI from $100.00 to $91.00 in a research note published on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the industrial products company’s stock.

IR has been the subject of several other research reports. Robert W. Baird lifted 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. The Goldman Sachs Group lifted their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus decreased their price objective on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday. UBS Group assumed coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Finally, Barclays decreased their price objective on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $85.76 on Wednesday. The business has a 50-day moving average of $91.79 and a 200 day moving average of $95.01. Ingersoll Rand has a 12 month low of $83.72 and a 12 month high of $106.03. The stock has a market capitalization of $34.56 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 3.40 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. As a group, sell-side analysts forecast that Ingersoll Rand will post 3.3 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IR. Creative Planning increased its position in Ingersoll Rand by 66.2% during the third quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock worth $10,794,000 after buying an additional 43,801 shares during the period. Blue Trust Inc. increased its holdings in shares of Ingersoll Rand by 167.5% in the third quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 1,709 shares during the period. Raymond James & Associates increased its holdings in shares of Ingersoll Rand by 51.1% in the third quarter. Raymond James & Associates now owns 353,809 shares of the industrial products company’s stock valued at $34,730,000 after purchasing an additional 119,656 shares during the period. OLD National Bancorp IN increased its holdings in shares of Ingersoll Rand by 5.4% in the third quarter. OLD National Bancorp IN now owns 3,118 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 159 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Ingersoll Rand by 11.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,063 shares of the industrial products company’s stock valued at $31,123,000 after purchasing an additional 32,961 shares during the period. Institutional investors and hedge funds 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.