Ingersoll Rand (NYSE:IR) Upgraded at Melius Research

Melius Research upgraded shares of Ingersoll Rand (NYSE:IR) to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other research firms have also recently commented on IR. Citigroup reissued a “buy” rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research note on Monday. Melius cut Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Monday. Barclays raised their price objective on Ingersoll Rand from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Finally, Stifel Nicolaus lowered their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Hold” and a consensus price target of $99.42.

Ingersoll Rand Stock Down 0.2%

Ingersoll Rand stock opened at $86.12 on Monday. The firm has a market cap of $34.75 billion, a price-to-earnings ratio of 42.64, a price-to-earnings-growth ratio of 3.64 and a beta of 1.43. Ingersoll Rand has a 52 week low of $65.61 and a 52 week high of $106.03. The business’s 50-day moving average price is $83.42 and its 200 day moving average price is $83.24. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business earned $0.78 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.96%.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the transaction, the insider directly owned 193,186 shares of the company’s stock, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Ingersoll Rand

A number of institutional investors have recently bought and sold shares of IR. Compass Wealth Management LLC increased its position in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 137 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after buying an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand during the fourth quarter worth about $36,000. Golden State Wealth Management LLC increased its stake in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 313 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in Ingersoll Rand by 54.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 172 shares in the last quarter. 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.