Barclays Boosts Ingersoll-Rand (IR) Price Target to $115.00

Ingersoll-Rand (NYSE:IR) had its price target raised by stock analysts at Barclays from $111.00 to $115.00 in a note issued to investors on Wednesday, April 3rd, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective suggests a potential upside of 1.67% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on IR. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Wells Fargo & Co downgraded shares of Ingersoll-Rand from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $110.00 to $113.00 in a research note on Monday, March 18th. They noted that the move was a valuation call. Cowen reiterated a “buy” rating and set a $115.00 price target on shares of Ingersoll-Rand in a research note on Wednesday, January 23rd. Deutsche Bank assumed coverage on Ingersoll-Rand in a report on Wednesday, March 13th. They set a “hold” rating and a $107.00 price objective for the company. Finally, Morgan Stanley set a $120.00 price objective on Ingersoll-Rand and gave the company a “buy” rating in a report on Tuesday, February 26th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Ingersoll-Rand currently has an average rating of “Buy” and a consensus price target of $116.20.

Shares of NYSE:IR traded up $1.26 during trading on Wednesday, reaching $113.11. The stock had a trading volume of 1,022,919 shares, compared to its average volume of 1,447,698. The firm has a market cap of $27.19 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.68 and a beta of 1.28. The company has a quick ratio of 0.94, a current ratio of 1.33 and a debt-to-equity ratio of 0.53. Ingersoll-Rand has a 52 week low of $83.51 and a 52 week high of $114.55.

Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.86 billion. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. Ingersoll-Rand’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.02 earnings per share. Research analysts predict that Ingersoll-Rand will post 6.29 EPS for the current fiscal year.

In other Ingersoll-Rand news, CFO Susan K. Carter sold 70,037 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.67, for a total transaction of $7,400,809.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher J. Kuehn sold 5,195 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $109.90, for a total value of $570,930.50. Following the sale, the chief accounting officer now directly owns 25,273 shares of the company’s stock, valued at $2,777,502.70. The disclosure for this sale can be found here. Insiders sold 242,747 shares of company stock valued at $25,550,072 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in IR. JPMorgan Chase & Co. grew its position in shares of Ingersoll-Rand by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock worth $528,432,000 after buying an additional 1,085,581 shares during the period. Pictet Asset Management Ltd. acquired a new position in shares of Ingersoll-Rand during the 3rd quarter worth about $14,576,000. FDx Advisors Inc. grew its position in shares of Ingersoll-Rand by 16.9% in the 3rd quarter. FDx Advisors Inc. now owns 5,489 shares of the industrial products company’s stock valued at $561,000 after purchasing an additional 795 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Ingersoll-Rand in the 3rd quarter valued at approximately $395,000. Finally, Blair William & Co. IL grew its position in shares of Ingersoll-Rand by 27.3% in the 3rd quarter. Blair William & Co. IL now owns 3,895 shares of the industrial products company’s stock valued at $398,000 after purchasing an additional 835 shares during the period. 81.23% 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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