Ingersoll-Rand (NYSE:IR) Downgraded by Stephens

Stephens cut shares of Ingersoll-Rand (NYSE:IR) from an overweight rating to an equal rating in a research note published on Monday morning, BenzingaRatingsTable reports.

Other research analysts have also issued reports about the company. Jefferies Financial Group lowered Ingersoll-Rand from a buy rating to a hold rating and set a $140.00 price target on the stock. in a research report on Tuesday, July 2nd. Credit Suisse Group raised their price target on Ingersoll-Rand from $138.00 to $140.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Cowen restated a buy rating and issued a $131.00 price target on shares of Ingersoll-Rand in a research report on Tuesday, July 30th. Morgan Stanley raised their price target on Ingersoll-Rand from $137.00 to $139.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Finally, Barclays restated a buy rating and issued a $134.00 price target on shares of Ingersoll-Rand in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $129.60.

NYSE:IR opened at $114.10 on Monday. Ingersoll-Rand has a 12-month low of $85.15 and a 12-month high of $128.31. The company has a quick ratio of 0.85, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $28.13 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.67 and a beta of 1.24. The stock’s fifty day simple moving average is $120.45 and its 200-day simple moving average is $119.93.



Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company earned $1.85 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that Ingersoll-Rand will post 6.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.86%. The ex-dividend date is Thursday, December 5th. Ingersoll-Rand’s payout ratio is presently 37.79%.

In related news, insider Evan M. Turtz sold 3,770 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total transaction of $482,560.00. Following the sale, the insider now owns 15,549 shares of the company’s stock, valued at approximately $1,990,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jared L. Cohon sold 938 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total value of $111,687.66. Following the sale, the director now directly owns 23,697 shares in the company, valued at approximately $2,821,601.79. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. QCI Asset Management Inc. NY acquired a new stake in shares of Ingersoll-Rand in the 2nd quarter valued at about $26,000. Arrow Financial Corp raised its stake in shares of Ingersoll-Rand by 232.6% in the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Ingersoll-Rand by 92.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 141 shares during the period. Berman Capital Advisors LLC raised its stake in shares of Ingersoll-Rand by 93.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 153 shares during the period. Finally, Halbert Hargrove Russell LLC raised its stake in shares of Ingersoll-Rand by 1,902.2% in the 2nd quarter. Halbert Hargrove Russell LLC now owns 7,368 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 7,000 shares during the period. 78.18% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll-Rand Company Profile

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

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