Wells Fargo & Company Increases Ingersoll Rand (NYSE:IR) Price Target to $110.00

Ingersoll Rand (NYSE:IR) had its target price hoisted by stock analysts at Wells Fargo & Company from $100.00 to $110.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 11.26% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on IR. Cfra upped their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Barclays upped their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Ingersoll Rand Trading Down 1.1 %

Shares of NYSE:IR opened at $98.87 on Monday. The company’s 50-day moving average price is $92.44 and its two-hundred day moving average price is $92.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.41. The stock has a market capitalization of $39.89 billion, a PE ratio of 49.19, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities analysts forecast that Ingersoll Rand will post 3.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock worth $7,108,005 in the last quarter. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

A number of institutional investors and hedge funds have recently made changes to their positions in IR. Capital International Investors lifted its holdings in shares of Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares during the period. Capital World Investors bought a new stake in shares of Ingersoll Rand during the 1st quarter worth approximately $440,401,000. JPMorgan Chase & Co. lifted its holdings in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after acquiring an additional 3,535,543 shares during the period. Capital Research Global Investors lifted its holdings in shares of Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after acquiring an additional 1,504,414 shares during the period. Finally, Putnam Investments LLC lifted its holdings in shares of Ingersoll Rand by 8.0% during the 4th quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock worth $730,383,000 after acquiring an additional 696,610 shares during the period. Institutional investors 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.