Ingersoll-Rand (NYSE:IR) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of Ingersoll-Rand (NYSE:IR) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

A number of other research firms have also weighed in on IR. Deutsche Bank raised Ingersoll-Rand from a hold rating to a buy rating and set a $123.46 target price on the stock in a report on Wednesday, May 1st. Cowen reissued a buy rating and set a $131.00 target price on shares of Ingersoll-Rand in a report on Tuesday. Barclays boosted their target price on Ingersoll-Rand from $115.00 to $135.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Credit Suisse Group boosted their target price on Ingersoll-Rand from $138.00 to $140.00 and gave the stock an outperform rating in a report on Wednesday. Finally, KeyCorp boosted their target price on Ingersoll-Rand from $130.00 to $135.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $128.70.

Shares of NYSE:IR traded down $0.85 during trading on Thursday, hitting $120.88. 1,426,988 shares of the company were exchanged, compared to its average volume of 1,314,814. The stock has a market capitalization of $29.82 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.81 and a beta of 1.24. Ingersoll-Rand has a fifty-two week low of $85.15 and a fifty-two week high of $128.31. The firm has a fifty day simple moving average of $124.82. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.69.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 EPS. As a group, sell-side analysts predict that Ingersoll-Rand will post 6.4 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.53 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.12 annualized dividend and a yield of 1.75%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.

In related news, CEO Michael W. Lamach sold 146,733 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the sale, the chief executive officer now directly owns 356,238 shares in the company, valued at approximately $44,529,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Evan M. Turtz sold 3,770 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 15,549 shares of the company’s stock, valued at $1,990,272. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WP Advisors LLC bought a new stake in shares of Ingersoll-Rand during the 1st quarter valued at $34,000. Arrow Financial Corp lifted its position in shares of Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 200 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 141 shares during the period. Financial Gravity Wealth Inc. bought a new stake in shares of Ingersoll-Rand during the 1st quarter valued at $38,000. Finally, Berman Capital Advisors LLC lifted its position in shares of Ingersoll-Rand by 93.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 78.43% of the company’s stock.

About Ingersoll-Rand

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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