Ingersoll-Rand (NYSE:IR) had its target price upped by Barclays from $115.00 to $117.00 in a research note issued to investors on Thursday. Barclays currently has an overweight rating on the industrial products company’s stock.

IR has been the topic of several other research reports. Zacks Investment Research raised shares of Ingersoll-Rand from a hold rating to a buy rating and set a $95.00 price objective on the stock in a research note on Friday, April 27th. Argus lifted their price objective on shares of Ingersoll-Rand from $100.00 to $114.00 and gave the stock a buy rating in a research note on Tuesday, July 31st. Cowen initiated coverage on shares of Ingersoll-Rand in a research note on Tuesday, June 19th. They issued an outperform rating and a $111.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Ingersoll-Rand from $94.00 to $104.00 and gave the stock a buy rating in a research note on Thursday, April 26th. Finally, Bank of America lifted their price objective on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the stock a neutral rating in a research note on Monday, July 30th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $106.23.

Ingersoll-Rand stock traded down $0.26 during trading hours on Thursday, hitting $96.25. 939,573 shares of the company traded hands, compared to its average volume of 1,455,524. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.50 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. Ingersoll-Rand has a 1-year low of $79.63 and a 1-year high of $99.00.

Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. research analysts expect that Ingersoll-Rand will post 5.54 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.20%. This is a boost from Ingersoll-Rand’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 6th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 39.91%.

In other Ingersoll-Rand news, insider Paul A. Camuti sold 3,100 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was 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 owns 113,288 shares of the company’s stock, valued at $10,422,496. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,121 shares of company stock valued at $3,804,936. Corporate insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in IR. Daiwa Securities Group Inc. boosted its holdings in shares of Ingersoll-Rand by 3.0% during the first quarter. Daiwa Securities Group Inc. now owns 24,197 shares of the industrial products company’s stock worth $2,069,000 after purchasing an additional 705 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in shares of Ingersoll-Rand by 140.7% during the first quarter. Thompson Davis & CO. Inc. now owns 1,793 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 1,048 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of Ingersoll-Rand by 1.5% during the first quarter. Dupont Capital Management Corp now owns 186,426 shares of the industrial products company’s stock worth $15,941,000 after purchasing an additional 2,792 shares during the period. Sentry Investment Management LLC boosted its holdings in shares of Ingersoll-Rand by 3.3% during the first quarter. Sentry Investment Management LLC now owns 18,486 shares of the industrial products company’s stock worth $1,581,000 after purchasing an additional 595 shares during the period. Finally, NuWave Investment Management LLC boosted its holdings in shares of Ingersoll-Rand by 299.0% during the first quarter. NuWave Investment Management LLC now owns 2,398 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 1,797 shares during the period. Institutional investors own 81.22% of the company’s stock.

About Ingersoll-Rand

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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Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

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