Melius Downgrades Ingersoll Rand (NYSE:IR) to Hold

Melius lowered shares of Ingersoll Rand (NYSE:IR - Free Report) from a buy rating to a hold rating in a research report released on Monday, Marketbeat Ratings reports. Melius currently has $93.00 price target on the industrial products company's stock.

IR has been the subject of a number of other research reports. Melius Research set a $93.00 target price on Ingersoll Rand in a report on Monday. Wells Fargo & Company lifted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Barclays lifted their target price on Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Stifel Nicolaus reduced their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a report on Monday, April 14th. Finally, Citigroup lifted their target price on Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $99.42.

Ingersoll Rand Stock Down 0.4%

IR stock traded down $0.34 on Monday, reaching $87.31. 523,992 shares of the company traded hands, compared to its average volume of 2,580,920. Ingersoll Rand has a one year low of $65.61 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. The company has a market cap of $35.22 billion, a P/E ratio of 43.25, a price-to-earnings-growth ratio of 3.76 and a beta of 1.43. The firm has a fifty day simple moving average of $83.04 and a 200-day simple moving average of $83.20.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.30% and a return on equity of 12.33%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business earned $0.78 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. Research analysts anticipate that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.96%.

Ingersoll Rand declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was 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 in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider owned 10,986 shares in the company, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

Several large investors have recently made changes to their positions in IR. Norges Bank bought a new stake in shares of Ingersoll Rand in the fourth quarter worth about $429,591,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Ingersoll Rand by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company's stock worth $1,426,654,000 after purchasing an additional 3,989,643 shares during the last quarter. Nuveen LLC bought a new stake in shares of Ingersoll Rand in the first quarter worth about $211,408,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Ingersoll Rand by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company's stock worth $1,536,464,000 after purchasing an additional 1,849,030 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Ingersoll Rand by 4.6% in the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares during the last quarter. 95.27% of the stock is currently 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.