Ingersoll-Rand (NYSE:IR) Given New $147.00 Price Target at Morgan Stanley

Ingersoll-Rand (NYSE:IR) had its target price upped by Morgan Stanley from $142.00 to $147.00 in a research note released on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on the company. Barclays reiterated a buy rating and issued a $134.00 target price on shares of Ingersoll-Rand in a research note on Friday, October 4th. Wells Fargo & Co upgraded Ingersoll-Rand from a market perform rating to an outperform rating in a research note on Thursday, December 5th. ValuEngine downgraded Ingersoll-Rand from a hold rating to a sell rating in a research note on Tuesday, January 7th. UBS Group began coverage on Ingersoll-Rand in a research note on Thursday, December 12th. They issued a buy rating and a $150.00 target price on the stock. Finally, Zacks Investment Research downgraded Ingersoll-Rand from a hold rating to a sell rating and set a $138.00 target price on the stock. in a research note on Monday, December 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $137.00.

NYSE:IR traded down $0.23 during mid-day trading on Tuesday, reaching $130.65. 364,282 shares of the stock were exchanged, compared to its average volume of 1,252,650. The company has a 50 day simple moving average of $132.47 and a 200-day simple moving average of $125.10. The stock has a market capitalization of $31.30 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.77 and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. Ingersoll-Rand has a 1 year low of $92.24 and a 1 year high of $138.33.

Ingersoll-Rand (NYSE:IR) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.08. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the business posted $1.75 EPS. The company’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts predict that Ingersoll-Rand will post 6.4 EPS for the current year.

In related news, CEO Michael W. Lamach sold 242,347 shares of Ingersoll-Rand stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $135.00, for a total value of $32,716,845.00. Following the sale, the chief executive officer now directly owns 452,129 shares in the company, valued at $61,037,415. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Paul A. Camuti sold 10,710 shares of Ingersoll-Rand stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $132.19, for a total value of $1,415,754.90. Following the transaction, the senior vice president now directly owns 70,804 shares of the company’s stock, valued at $9,359,580.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 282,049 shares of company stock worth $37,930,655. Company insiders own 0.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of IR. QCI Asset Management Inc. NY acquired a new position in Ingersoll-Rand during the second quarter worth $26,000. NewSquare Capital LLC acquired a new position in Ingersoll-Rand during the fourth quarter worth $37,000. Global Retirement Partners LLC raised its holdings in Ingersoll-Rand by 32.0% during the third quarter. Global Retirement Partners LLC now owns 334 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 81 shares during the last quarter. North Star Investment Management Corp. acquired a new position in Ingersoll-Rand during the third quarter worth $48,000. Finally, Sandy Spring Bank raised its holdings in Ingersoll-Rand by 735.8% during the third quarter. Sandy Spring Bank now owns 443 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 390 shares during the last quarter. 79.54% of the stock is 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.

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Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

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