Ingersoll Rand (NYSE:IR) Rating Lowered to Hold at Stifel Nicolaus

Ingersoll Rand (NYSE:IR) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Monday, MarketBeat reports. They currently have a $107.00 price objective on the industrial products company’s stock, down from their prior price objective of $112.00. Stifel Nicolaus’ target price suggests a potential upside of 4.51% from the stock’s previous close.

IR has been the subject of several other research reports. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird dropped their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Finally, Evercore ISI dropped their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.83.

Ingersoll Rand Trading Up 0.7 %

Shares of Ingersoll Rand stock opened at $102.38 on Monday. The company has a fifty day moving average of $98.40 and a 200 day moving average of $94.42. Ingersoll Rand has a fifty-two week low of $69.46 and a fifty-two week high of $105.63. The company has a market capitalization of $41.26 billion, a P/E ratio of 49.94, a P/E/G ratio of 3.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently modified their holdings of the stock. Swedbank AB increased its position in shares of Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after acquiring an additional 198,200 shares during the period. Canada Pension Plan Investment Board increased its holdings in Ingersoll Rand by 44.5% during the first quarter. Canada Pension Plan Investment Board now owns 242,735 shares of the industrial products company’s stock valued at $23,048,000 after buying an additional 74,788 shares during the period. Bayesian Capital Management LP increased its holdings in Ingersoll Rand by 334.6% during the first quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company’s stock valued at $1,073,000 after buying an additional 8,700 shares during the period. GDS Wealth Management increased its holdings in 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 buying an additional 10,081 shares during the period. Finally, AXA S.A. increased its holdings in Ingersoll Rand by 81.4% during the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after buying an additional 39,417 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.