Ingersoll-Rand (NYSE:IR) PT Raised to $140.00

Ingersoll-Rand (NYSE:IR) had its price objective upped by investment analysts at Credit Suisse Group from $138.00 to $140.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 15.69% from the stock’s current price.

IR has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on Ingersoll-Rand from $137.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Co boosted their price target on Ingersoll-Rand from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. KeyCorp boosted their price target on Ingersoll-Rand from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Jefferies Financial Group cut Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research note on Tuesday, July 2nd. Finally, Cowen reiterated a “buy” rating and issued a $131.00 price target on shares of Ingersoll-Rand in a research note on Tuesday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $128.70.

Shares of IR traded down $0.72 during midday trading on Wednesday, reaching $121.01. 16,977 shares of the company were exchanged, compared to its average volume of 1,286,908. The company’s 50-day moving average is $124.89. The stock has a market capitalization of $30.53 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26. Ingersoll-Rand has a 1-year low of $85.15 and a 1-year high of $128.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.14 and a current ratio of 1.23.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.03. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Ingersoll-Rand had a return on equity of 20.32% and a net margin of 8.89%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. Analysts anticipate that Ingersoll-Rand will post 6.38 EPS for the current year.

In other Ingersoll-Rand news, CEO Michael W. Lamach sold 146,733 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $125.00, for a total transaction of $18,341,625.00. Following the sale, the chief executive officer now owns 356,238 shares in the company, valued at $44,529,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Evan M. Turtz sold 3,770 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total value of $482,560.00. Following the sale, 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. Insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. WP Advisors LLC bought a new position in shares of Ingersoll-Rand during the first quarter valued at approximately $34,000. Arrow Financial Corp grew its holdings in shares of Ingersoll-Rand by 232.6% during the second quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Ingersoll-Rand by 92.2% during the second quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 141 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Ingersoll-Rand during the first quarter valued at approximately $38,000. Finally, Berman Capital Advisors LLC grew its holdings in shares of Ingersoll-Rand by 93.9% during the second quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 78.43% of the company’s stock.

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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