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Ingersoll Rand Inc. (NYSE:IR – Get Rating) CAO Michael J. Scheske sold 1,742 shares of the stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $57.00, for a total value of $99,294.00. Following the completion of the sale, the chief accounting officer now owns 7,112 shares of the company’s stock, valued at $405,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Ingersoll Rand Price Performance
Ingersoll Rand stock traded up $0.14 during mid-day trading on Friday, reaching $57.53. 1,260,547 shares of the company were exchanged, compared to its average volume of 2,043,807. The company has a fifty day simple moving average of $53.67 and a 200-day simple moving average of $49.34. Ingersoll Rand Inc. has a 12 month low of $39.28 and a 12 month high of $59.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 1.79. The firm has a market cap of $23.30 billion, a PE ratio of 34.66 and a beta of 1.43.
Ingersoll Rand (NYSE:IR – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The industrial products company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Ingersoll Rand had a return on equity of 9.81% and a net margin of 11.91%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.45 billion. As a group, equities research analysts expect that Ingersoll Rand Inc. will post 2.12 earnings per share for the current fiscal year.
Ingersoll Rand Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Wednesday, November 16th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.82%.
Hedge Funds Weigh In On Ingersoll Rand
Hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. increased its stake in shares of Ingersoll Rand by 81.3% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 638 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 286 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Ingersoll Rand by 87.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 705 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 328 shares during the last quarter. Guardian Wealth Advisors LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at $30,000. CVA Family Office LLC boosted its holdings in shares of Ingersoll Rand by 131.3% during the 2nd quarter. CVA Family Office LLC now owns 740 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 420 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in shares of Ingersoll Rand during the 2nd quarter valued at $31,000. Institutional investors own 99.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on IR shares. TheStreet upgraded Ingersoll Rand from a “c” rating to a “b” rating in a report on Friday, November 25th. Wells Fargo & Company raised their price objective on Ingersoll Rand from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. Credit Suisse Group raised their price objective on Ingersoll Rand from $44.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, November 4th. StockNews.com began coverage on Ingersoll Rand in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Ingersoll Rand from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday, October 13th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.30.
About Ingersoll Rand
(Get Rating)
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
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