Ingersoll Rand (NYSE:IR) Hits New 12-Month High After Analyst Upgrade

Ingersoll Rand Inc. (NYSE:IRGet Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $78.00 to $93.00. UBS Group currently has a buy rating on the stock. Ingersoll Rand traded as high as $80.83 and last traded at $80.60, with a volume of 323787 shares changing hands. The stock had previously closed at $80.48.

A number of other equities analysts have also issued reports on IR. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $73.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. StockNews.com initiated coverage on shares of Ingersoll Rand in a report on Thursday, October 5th. They issued a “hold” rating for the company. Cfra upped their price target on shares of Ingersoll Rand from $66.00 to $68.00 and gave the company a “hold” rating in a report on Thursday, November 2nd. Citigroup upped their price target on shares of Ingersoll Rand from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Stifel Nicolaus raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.27.

Read Our Latest Stock Analysis on IR

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 13,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $71.89, for a total value of $934,570.00. Following the completion of the sale, the insider now directly owns 45,263 shares of the company’s stock, valued at $3,253,957.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Andrew R. Schiesl sold 13,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $71.89, for a total value of $934,570.00. Following the completion of the sale, the insider now directly owns 45,263 shares of the company’s stock, valued at $3,253,957.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 9,532 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.22, for a total value of $631,209.04. Following the completion of the transaction, the insider now owns 58,263 shares in the company, valued at approximately $3,858,175.86. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds have recently added to or reduced their stakes in IR. Horizon Investments LLC grew its holdings in Ingersoll Rand by 2.7% during the second quarter. Horizon Investments LLC now owns 5,837 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 152 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Ingersoll Rand by 17.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 173 shares during the last quarter. Aspire Private Capital LLC grew its holdings in Ingersoll Rand by 5.2% during the second quarter. Aspire Private Capital LLC now owns 3,775 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 186 shares during the last quarter. Spire Wealth Management grew its holdings in Ingersoll Rand by 13.5% during the second quarter. Spire Wealth Management now owns 1,593 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 190 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Ingersoll Rand by 11.9% during the third quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 94.54% of the company’s stock.

Ingersoll Rand Stock Down 0.9 %

The company has a quick ratio of 1.60, a current ratio of 2.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $32.33 billion, a P/E ratio of 42.71, a PEG ratio of 1.90 and a beta of 1.47. The firm has a 50-day moving average price of $75.65 and a two-hundred day moving average price of $69.35.

Ingersoll Rand (NYSE:IRGet Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. Ingersoll Rand had a return on equity of 11.82% and a net margin of 11.47%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Equities research analysts anticipate that Ingersoll Rand Inc. will post 2.77 EPS for the current fiscal year.

About Ingersoll Rand

(Get Free Report)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

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