Ingersoll-Rand (NYSE:IR) had its price objective increased by research analysts at UBS Group from $108.00 to $115.00 in a report issued on Thursday, www.benzinga.com reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price objective suggests a potential upside of 13.02% from the stock’s current price.
IR has been the topic of a number of other research reports. Zacks Investment Research cut shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Morgan Stanley began coverage on shares of Ingersoll-Rand in a research report on Monday, August 20th. They set an “overweight” rating and a $111.00 price objective on the stock. Bank of America increased their price objective on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Cowen began coverage on shares of Ingersoll-Rand in a research report on Tuesday, June 19th. They set an “outperform” rating and a $111.00 price objective on the stock. Finally, Wolfe Research began coverage on shares of Ingersoll-Rand in a research report on Wednesday, June 27th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Ingersoll-Rand currently has an average rating of “Buy” and an average target price of $108.83.
Shares of Ingersoll-Rand stock opened at $101.75 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93. Ingersoll-Rand has a 1-year low of $79.63 and a 1-year high of $102.24. The stock has a market cap of $24.76 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.34.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.13. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 EPS. sell-side analysts forecast that Ingersoll-Rand will post 5.54 earnings per share for the current year.
In related news, Director Jared L. Cohon sold 2,663 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $97.30, for a total value of $259,109.90. Following the transaction, the director now owns 24,153 shares of the company’s stock, valued at approximately $2,350,086.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Marcia J. Avedon sold 10,460 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $92.00, for a total transaction of $962,320.00. Following the completion of the transaction, the senior vice president now directly owns 113,288 shares in the company, valued at approximately $10,422,496. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,021 shares of company stock worth $3,525,936. 0.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new stake in Ingersoll-Rand in the 2nd quarter valued at about $106,000. Synovus Financial Corp purchased a new stake in Ingersoll-Rand in the 1st quarter valued at about $118,000. Fort L.P. purchased a new stake in Ingersoll-Rand in the 2nd quarter valued at about $121,000. Smithfield Trust Co. increased its stake in Ingersoll-Rand by 374.5% in the 2nd quarter. Smithfield Trust Co. now owns 1,376 shares of the industrial products company’s stock valued at $123,000 after buying an additional 1,086 shares during the last quarter. Finally, CWM LLC increased its stake in Ingersoll-Rand by 653.3% in the 2nd quarter. CWM LLC now owns 1,499 shares of the industrial products company’s stock valued at $135,000 after buying an additional 1,300 shares during the last quarter. 80.12% of the stock is currently owned by institutional investors and hedge funds.
Ingersoll-Rand Company Profile
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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