Ingersoll Rand (NYSE:IR) Price Target Lowered to $105.00 at Wells Fargo & Company

Ingersoll Rand (NYSE:IR) had its price objective lowered by Wells Fargo & Company from $115.00 to $105.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their target price for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Cfra upped their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Citigroup lifted their target price on Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, December 9th. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Finally, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $107.25.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $89.01 on Tuesday. Ingersoll Rand has a 52 week low of $74.01 and a 52 week high of $106.03. The firm has a market cap of $35.87 billion, a P/E ratio of 43.42, a P/E/G ratio of 3.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The business’s fifty day moving average is $98.80 and its two-hundred day moving average is $95.83.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is 3.90%.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Ingersoll Rand in the 2nd quarter valued at about $1,177,000. Caprock Group LLC increased its stake in shares of Ingersoll Rand by 28.8% during the second quarter. Caprock Group LLC now owns 9,355 shares of the industrial products company’s stock worth $850,000 after purchasing an additional 2,093 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Ingersoll Rand during the second quarter worth approximately $125,000. Wedbush Securities Inc. bought a new stake in Ingersoll Rand in the 2nd quarter valued at $598,000. Finally, Choreo LLC acquired a new position in Ingersoll Rand in the 2nd quarter valued at $787,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.