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

Ingersoll Rand (NYSE:IR) had its target price reduced by Citigroup from $119.00 to $115.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays dropped their price target on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price target for the company from $112.00 to $107.00 in a report on Monday, November 18th. Cfra upped their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Ingersoll Rand Stock Performance

NYSE IR opened at $90.54 on Monday. Ingersoll Rand has a 1-year low of $76.64 and a 1-year high of $106.03. The company has a 50 day moving average of $98.07 and a 200-day moving average of $95.74. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm has a market cap of $36.49 billion, a price-to-earnings ratio of 44.17, a PEG ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a $0.02 dividend. 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 dividend payout ratio is presently 3.90%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

A number of large investors have recently made changes to their positions in IR. Acadian Asset Management LLC bought a new stake in shares of Ingersoll Rand in the second quarter worth about $1,177,000. American Century Companies Inc. increased its stake in Ingersoll Rand by 32.2% during the 2nd quarter. American Century Companies Inc. now owns 75,719 shares of the industrial products company’s stock worth $6,878,000 after purchasing an additional 18,449 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Ingersoll Rand by 2.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 178,292 shares of the industrial products company’s stock valued at $16,120,000 after buying an additional 3,435 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after buying an additional 119 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Ingersoll Rand by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Institutional investors 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.