Barclays Cuts Ingersoll Rand (NYSE:IR) Price Target to $115.00

Ingersoll Rand (NYSE:IR) had its price target lowered by equities researchers at Barclays from $120.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 29.20% from the company’s current price.

Several other research firms also recently issued reports on IR. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group upped their price target on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Robert W. Baird decreased their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.83.

Ingersoll Rand Price Performance

NYSE:IR opened at $89.01 on Wednesday. The firm has a market cap of $35.87 billion, a PE ratio of 43.42, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. Ingersoll Rand has a 12 month low of $74.01 and a 12 month high of $106.03. The company’s 50-day moving average price is $98.80 and its two-hundred day moving average price is $95.83. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand 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 of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of Ingersoll Rand in the third quarter valued at $864,000. Daiwa Securities Group Inc. increased its stake in Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after buying an additional 7,784 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Ingersoll Rand by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after buying an additional 271,381 shares in the last quarter. GDS Wealth Management increased its position in shares of Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after acquiring an additional 10,081 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Ingersoll Rand by 28.2% in the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock worth $9,987,000 after buying an additional 22,401 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.