Melius Research Upgrades Ingersoll Rand (NYSE:IR) to Hold

Melius Research upgraded shares of Ingersoll Rand (NYSE:IR - Free Report) to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

IR has been the topic of several other reports. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company boosted their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Melius downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a research note on Monday. Citigroup reiterated a "buy" rating and set a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday. Finally, Barclays boosted their target price on Ingersoll Rand from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $99.42.

Ingersoll Rand Price Performance

Shares of IR traded down $1.77 during trading hours on Monday, reaching $85.99. 1,703,352 shares of the company traded hands, compared to its average volume of 2,874,958. The company has a quick ratio of 1.76, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $34.69 billion, a PE ratio of 42.52, a price-to-earnings-growth ratio of 3.63 and a beta of 1.43. Ingersoll Rand has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The stock has a fifty day simple moving average of $83.59 and a 200 day simple moving average of $83.22.

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

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand's dividend payout ratio is 3.96%.

Ingersoll Rand declared that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the sale, the insider 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 SEC, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the business's stock in a transaction that occurred on 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 sale, the insider owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents 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 owned by insiders.

Institutional Investors Weigh In On Ingersoll Rand

Several institutional investors and hedge funds have recently added to or reduced their stakes in IR. Proficio Capital Partners LLC acquired a new stake in Ingersoll Rand during the 4th quarter worth about $131,000. HighTower Advisors LLC raised its stake in Ingersoll Rand by 2.5% during the 4th quarter. HighTower Advisors LLC now owns 84,177 shares of the industrial products company's stock worth $7,615,000 after buying an additional 2,049 shares during the period. Avantax Advisory Services Inc. raised its stake in Ingersoll Rand by 90.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 10,727 shares of the industrial products company's stock worth $970,000 after buying an additional 5,083 shares during the period. Commonwealth Equity Services LLC lifted its position in Ingersoll Rand by 2.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 29,972 shares of the industrial products company's stock valued at $2,711,000 after acquiring an additional 602 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Ingersoll Rand by 2.1% in the 4th quarter. Natixis Advisors LLC now owns 152,194 shares of the industrial products company's stock valued at $13,767,000 after acquiring an additional 3,090 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

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.