Ingersoll Rand (NYSE:IR) Lowered to “Hold” at StockNews.com

Ingersoll Rand (NYSE:IR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities analysts have also issued reports about the company. Citigroup raised their target price on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Cfra raised their target price on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. Wells Fargo & Company raised their target price on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Evercore ISI downgraded Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price target for the company from $81.00 to $89.00 in a research report on Tuesday, February 20th. Finally, Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Ingersoll Rand Stock Down 0.5 %

Shares of NYSE:IR traded down $0.47 during midday trading on Thursday, hitting $92.03. 2,567,215 shares of the stock were exchanged, compared to its average volume of 2,463,601. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. Ingersoll Rand has a 52-week low of $53.24 and a 52-week high of $96.17. The business’s fifty day simple moving average is $91.62 and its two-hundred day simple moving average is $79.45. The company has a market capitalization of $37.13 billion, a PE ratio of 48.44, a P/E/G ratio of 3.16 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. As a group, research analysts predict that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the sale, the insider now directly owns 48,904 shares in the company, valued at approximately $4,398,914.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock worth $26,374,789 over the last three months. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several large investors have recently modified their holdings of IR. Norges Bank bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $301,890,000. Capital International Investors boosted its holdings in shares of Ingersoll Rand by 35.4% in the 4th quarter. Capital International Investors now owns 12,246,481 shares of the industrial products company’s stock worth $947,143,000 after acquiring an additional 3,202,973 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Ingersoll Rand by 46.6% in the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after acquiring an additional 3,119,793 shares in the last quarter. UBS Group AG boosted its holdings in shares of Ingersoll Rand by 105.3% in the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock worth $160,637,000 after acquiring an additional 1,065,413 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Ingersoll Rand by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,165,135 shares of the industrial products company’s stock worth $585,380,000 after acquiring an additional 886,697 shares in 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.