Ingersoll-Rand PLC (NYSE:IR)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a research report issued on Tuesday.
A number of other research analysts have also commented on IR. Zacks Investment Research lowered Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. KeyCorp reissued a “hold” rating on shares of Ingersoll-Rand PLC in a report on Monday, October 10th. Credit Suisse Group AG reissued a “buy” rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a report on Sunday, July 10th. Stifel Nicolaus lowered their price objective on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, BMO Capital Markets started coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $68.00.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 65.27 on Tuesday. The company’s 50 day moving average price is $66.22 and its 200 day moving average price is $65.59. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $68.97. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 12.02 and a beta of 1.26.
Ingersoll-Rand PLC (NYSE:IR) last issued its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm posted $1.20 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Analysts forecast that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, December 7th. This is an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is 23.53%.
In related news, insider Marcia J. Avedon sold 5,815 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $68.17, for a total transaction of $396,408.55. Following the completion of the sale, the insider now directly owns 117,192 shares of the company’s stock, valued at approximately $7,988,978.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Keith A. Sultana sold 3,071 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $68.81, for a total value of $211,315.51. Following the sale, the senior vice president now directly owns 10,698 shares of the company’s stock, valued at $736,129.38. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. boosted its stake in Ingersoll-Rand PLC by 47.4% in the second quarter. Howe & Rusling Inc. now owns 2,112 shares of the company’s stock worth $134,000 after buying an additional 679 shares in the last quarter. Washington Trust Bank boosted its stake in Ingersoll-Rand PLC by 39.6% in the third quarter. Washington Trust Bank now owns 2,374 shares of the company’s stock worth $161,000 after buying an additional 674 shares in the last quarter. Zions Bancorporation boosted its stake in Ingersoll-Rand PLC by 30.1% in the second quarter. Zions Bancorporation now owns 2,575 shares of the company’s stock worth $166,000 after buying an additional 596 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Ingersoll-Rand PLC by 60.2% in the second quarter. CENTRAL TRUST Co now owns 2,660 shares of the company’s stock worth $170,000 after buying an additional 1,000 shares in the last quarter. Finally, Smith Asset Management Group LP acquired a new stake in Ingersoll-Rand PLC during the second quarter worth $187,000. 81.01% of the stock is owned by hedge funds and other institutional investors.
Ingersoll-Rand PLC Company Profile
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.
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