Brokerages Set Ingersoll Rand Inc. (NYSE:IR) Target Price at $96.64

Ingersoll Rand Inc. (NYSE:IR) has been assigned an average rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $93.90.

Several brokerages have commented on IR. Barclays cut their target price on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Citigroup lowered their price target on shares of Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Morgan Stanley decreased their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Finally, Robert W. Baird lowered their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd.

Ingersoll Rand Stock Down 2.0%

Ingersoll Rand stock opened at $76.18 on Friday. The firm has a 50 day simple moving average of $79.44 and a 200 day simple moving average of $81.02. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. Ingersoll Rand has a 1-year low of $65.61 and a 1-year high of $106.03. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 56.43, a P/E/G ratio of 4.99 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, analysts predict that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.93%.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently modified their holdings of IR. Eisler Capital Management Ltd. bought a new stake in shares of Ingersoll Rand during the 3rd quarter valued at about $3,926,000. Quantitative Investment Management LLC purchased a new stake in Ingersoll Rand in the third quarter valued at approximately $799,000. Arrowstreet Capital Limited Partnership lifted its position in Ingersoll Rand by 326.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 318,261 shares of the industrial products company’s stock valued at $26,295,000 after purchasing an additional 243,646 shares during the last quarter. Invesco Ltd. grew its stake in Ingersoll Rand by 5.5% in the 3rd quarter. Invesco Ltd. now owns 2,980,446 shares of the industrial products company’s stock worth $246,244,000 after buying an additional 156,371 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Ingersoll Rand by 26.7% in the 3rd quarter. UBS Group AG now owns 3,625,020 shares of the industrial products company’s stock worth $299,499,000 after buying an additional 765,041 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.