BMO Capital Markets Increases Ingersoll-Rand (NYSE:IR) Price Target to $115.00

Ingersoll-Rand (NYSE:IR) had its price objective upped by BMO Capital Markets to $115.00 in a report issued on Friday, February 2nd. The firm currently has an “outperform” rating on the industrial products company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 26.50% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Ingersoll-Rand from $93.00 to $91.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Citigroup boosted their target price on shares of Ingersoll-Rand from $98.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Stifel Nicolaus boosted their target price on shares of Ingersoll-Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Zacks Investment Research lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Morgan Stanley lowered shares of Ingersoll-Rand from an “overweight” rating to an “equal weight” rating and set a $98.00 price objective for the company. in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $102.92.

Shares of Ingersoll-Rand (NYSE:IR) opened at $90.91 on Friday. Ingersoll-Rand has a twelve month low of $77.26 and a twelve month high of $97.67. The company has a market capitalization of $22,720.00, a P/E ratio of 17.58, a P/E/G ratio of 1.91 and a beta of 1.33. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts expect that Ingersoll-Rand will post 5.17 EPS for the current year.

In other news, Chairman Michael W. Lamach sold 210,508 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $88.28, for a total transaction of $18,583,646.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jared L. Cohon sold 2,350 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total transaction of $217,140.00. Following the completion of the transaction, the director now owns 25,766 shares in the company, valued at $2,380,778.40. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings in Ingersoll-Rand by 53.9% in the second quarter. GSA Capital Partners LLP now owns 4,286 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 1,501 shares during the period. Numeric Investors LLC acquired a new stake in Ingersoll-Rand in the second quarter worth $1,554,000. Stifel Financial Corp raised its holdings in Ingersoll-Rand by 5.9% in the second quarter. Stifel Financial Corp now owns 79,849 shares of the industrial products company’s stock worth $7,294,000 after purchasing an additional 4,461 shares during the period. First Allied Advisory Services Inc. raised its holdings in Ingersoll-Rand by 7.1% in the second quarter. First Allied Advisory Services Inc. now owns 4,875 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 324 shares during the period. Finally, People s United Financial Inc. raised its holdings in Ingersoll-Rand by 5.3% in the second quarter. People s United Financial Inc. now owns 2,578 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

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About Ingersoll-Rand

Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.

Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

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