Ingersoll-Rand (NYSE:IR) Lowered to Peer Perform at Wolfe Research

Wolfe Research downgraded shares of Ingersoll-Rand (NYSE:IR) from an outperform rating to a peer perform rating in a report published on Thursday, January 9th, BenzingaRatingsTable reports.

IR has been the subject of a number of other research reports. KeyCorp lifted their target price on shares of Ingersoll-Rand from $135.00 to $140.00 and gave the company an overweight rating in a research note on Wednesday, October 30th. ValuEngine cut shares of Ingersoll-Rand from a hold rating to a sell rating in a research report on Tuesday, January 7th. Stephens cut shares of Ingersoll-Rand from an overweight rating to an equal rating in a research report on Monday, October 7th. Deutsche Bank cut shares of Ingersoll-Rand from a buy rating to a hold rating and dropped their target price for the company from $137.00 to $135.00 in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Finally, Barclays reiterated a buy rating and set a $134.00 target price on shares of Ingersoll-Rand in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $137.00.

Shares of NYSE:IR traded up $0.63 during midday trading on Thursday, hitting $131.94. The company’s stock had a trading volume of 207,059 shares, compared to its average volume of 1,102,500. Ingersoll-Rand has a fifty-two week low of $92.24 and a fifty-two week high of $138.33. The stock has a market capitalization of $31.19 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.78 and a beta of 1.22. The stock’s 50 day simple moving average is $132.48 and its 200 day simple moving average is $125.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 1.28.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 earnings per share. As a group, analysts anticipate that Ingersoll-Rand will post 6.4 EPS for the current year.

In related news, SVP Evan M. Turtz sold 3,887 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $135.00, for a total transaction of $524,745.00. Following the transaction, the senior vice president now directly owns 15,681 shares of the company’s stock, valued at $2,116,935. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David S. Regnery sold 10,645 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $134.90, for a total transaction of $1,436,010.50. Following the transaction, the executive vice president now directly owns 63,288 shares in the company, valued at $8,537,551.20. The disclosure for this sale can be found here. Insiders have sold 282,049 shares of company stock valued at $37,930,655 in the last ninety days. Insiders own 0.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of IR. Sciencast Management LP purchased a new stake in Ingersoll-Rand in the 4th quarter worth approximately $1,102,000. Cerebellum GP LLC grew its holdings in Ingersoll-Rand by 20.1% during the 4th quarter. Cerebellum GP LLC now owns 4,293 shares of the industrial products company’s stock valued at $571,000 after buying an additional 718 shares in the last quarter. Gradient Investments LLC purchased a new stake in Ingersoll-Rand during the 4th quarter valued at approximately $53,000. FormulaFolio Investments LLC purchased a new stake in Ingersoll-Rand during the 4th quarter valued at approximately $472,000. Finally, Kistler Tiffany Companies LLC boosted its position in shares of Ingersoll-Rand by 100.0% during the 4th quarter. Kistler Tiffany Companies LLC now owns 1,000 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 79.54% 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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