Barclays began coverage on shares of Ingersoll-Rand (NYSE:IR) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $111.00 target price on the industrial products company’s stock.
Several other research firms have also recently weighed in on IR. BMO Capital Markets upped their target price on Ingersoll-Rand to $115.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Stifel Nicolaus increased their price target on Ingersoll-Rand from $101.00 to $112.00 and gave the company a buy rating in a research note on Thursday, February 1st. Royal Bank of Canada dropped their price target on Ingersoll-Rand from $93.00 to $91.00 and set a sector perform rating for the company in a research note on Thursday, October 26th. Zacks Investment Research upgraded Ingersoll-Rand from a hold rating to a buy rating and set a $102.00 price target for the company in a research note on Monday, January 22nd. Finally, Morgan Stanley cut Ingersoll-Rand from an overweight rating to an equal weight rating and set a $98.00 price target for the company. in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $103.08.
Shares of Ingersoll-Rand (IR) opened at $91.03 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 1.27. Ingersoll-Rand has a 12 month low of $77.26 and a 12 month high of $97.67. The firm has a market capitalization of $22,747.40, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 8th. Ingersoll-Rand’s payout ratio is 35.50%.
In related news, Chairman Michael W. Lamach sold 210,508 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total value of $18,583,646.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jared L. Cohon sold 2,350 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total value of $217,140.00. Following the completion of the sale, the director now owns 25,766 shares of the company’s stock, valued at $2,380,778.40. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in Ingersoll-Rand by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 12,144,210 shares of the industrial products company’s stock valued at $1,070,876,000 after purchasing an additional 217,865 shares during the period. Ameriprise Financial Inc. increased its holdings in Ingersoll-Rand by 1.2% in the third quarter. Ameriprise Financial Inc. now owns 5,874,474 shares of the industrial products company’s stock valued at $523,825,000 after purchasing an additional 70,636 shares during the period. Geode Capital Management LLC increased its holdings in Ingersoll-Rand by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,793,249 shares of the industrial products company’s stock valued at $248,631,000 after purchasing an additional 24,483 shares during the period. Victory Capital Management Inc. increased its holdings in Ingersoll-Rand by 43.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,502,804 shares of the industrial products company’s stock valued at $223,225,000 after purchasing an additional 761,576 shares during the period. Finally, Beutel Goodman & Co Ltd. increased its holdings in Ingersoll-Rand by 4.3% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,144,475 shares of the industrial products company’s stock valued at $152,799,000 after purchasing an additional 88,528 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.
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Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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