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

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

Several other equities research analysts also recently commented on the company. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Robert W. Baird dropped their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Cfra raised their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. UBS Group began coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Finally, Barclays raised their price target on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus price target of $106.83.

Ingersoll Rand Price Performance

Shares of IR opened at $89.19 on Tuesday. The firm’s 50-day simple moving average is $98.50 and its two-hundred day simple moving average is $95.73. Ingersoll Rand has a fifty-two week low of $74.58 and a fifty-two week high of $106.03. The stock has a market cap of $35.94 billion, a PE ratio of 43.51, a price-to-earnings-growth 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.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a $0.02 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in Ingersoll Rand during the third quarter valued at approximately $34,000. Eastern Bank bought a new stake in shares of Ingersoll Rand during the 3rd quarter valued at $42,000. Kimelman & Baird LLC purchased a new stake in shares of Ingersoll Rand in the 2nd quarter worth $57,000. Versant Capital Management Inc raised its holdings in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new position in Ingersoll Rand during the third quarter valued at $65,000. 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.