Ingersoll-Rand (NYSE:IR) had its price target lowered by JPMorgan Chase & Co. from $140.00 to $129.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 11.80% from the stock’s current price.
A number of other research firms have also recently issued reports on IR. Morgan Stanley raised their price objective on Ingersoll-Rand from $137.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Stephens cut Ingersoll-Rand from an “overweight” rating to an “equal” rating in a research report on Monday, October 7th. ValuEngine cut Ingersoll-Rand from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group cut Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Tuesday, July 2nd. Finally, Barclays reaffirmed a “buy” rating and issued a $134.00 price objective on shares of Ingersoll-Rand in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $129.56.
Shares of NYSE IR opened at $115.38 on Thursday. The stock has a 50 day moving average price of $120.32 and a 200 day moving average price of $120.05. Ingersoll-Rand has a 52 week low of $85.15 and a 52 week high of $128.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.23. The stock has a market capitalization of $27.56 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, beating the 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 firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the prior year, the firm posted $1.85 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Ingersoll-Rand will post 6.4 EPS for the current year.
In other Ingersoll-Rand news, 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 transaction of $111,687.66. Following the transaction, the director now owns 23,697 shares in the company, valued at approximately $2,821,601.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $482,560.00. Following the transaction, the insider now owns 15,549 shares in the company, valued at approximately $1,990,272. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. QCI Asset Management Inc. NY purchased a new position in shares of Ingersoll-Rand in the 2nd quarter worth approximately $26,000. Arrow Financial Corp boosted 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 worth $36,000 after buying an additional 200 shares during the last quarter. AdvisorNet Financial Inc boosted 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 worth $37,000 after buying an additional 141 shares during the last quarter. Berman Capital Advisors LLC boosted 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 worth $40,000 after buying an additional 153 shares during the last quarter. Finally, Halbert Hargrove Russell LLC boosted 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 worth $46,000 after buying an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 78.18% of the company’s stock.
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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