Ingersoll-Rand PLC (NYSE:IR) – KeyCorp boosted their Q3 2016 EPS estimates for Ingersoll-Rand PLC in a report released on Wednesday. KeyCorp analyst J. Hammond now anticipates that the brokerage will post earnings per share of $1.31 for the quarter, up from their prior forecast of $1.28. KeyCorp also issued estimates for Ingersoll-Rand PLC’s FY2016 earnings at $4.13 EPS.
IR has been the subject of a number of other reports. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a report on Thursday, July 28th. Zacks Investment Research lowered Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. BMO Capital Markets assumed coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 price objective for the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $72.00 price target on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Finally, Stifel Nicolaus decreased their price target on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $68.00.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 67.45 on Friday. Ingersoll-Rand PLC has a 12 month low of $47.08 and a 12 month high of $68.97. The stock has a market cap of $17.40 billion, a P/E ratio of 12.42 and a beta of 1.26. The stock has a 50 day moving average price of $66.54 and a 200-day moving average price of $65.39.
Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.08. The business earned $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share.
Hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Ingersoll-Rand PLC by 47.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,895,791 shares of the company’s stock valued at $248,084,000 after buying an additional 1,259,205 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Ingersoll-Rand PLC by 484.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,439,166 shares of the company’s stock valued at $91,647,000 after buying an additional 1,192,726 shares during the last quarter. FMR LLC increased its position in Ingersoll-Rand PLC by 13.4% in the second quarter. FMR LLC now owns 6,340,082 shares of the company’s stock valued at $403,736,000 after buying an additional 751,271 shares during the last quarter. Schroder Investment Management Group increased its position in Ingersoll-Rand PLC by 38.8% in the second quarter. Schroder Investment Management Group now owns 2,214,137 shares of the company’s stock valued at $140,997,000 after buying an additional 619,349 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in Ingersoll-Rand PLC during the second quarter valued at approximately $31,670,000. Institutional investors and hedge funds own 80.97% of the company’s stock.
In related news, Director Richard J. Swift sold 2,100 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total transaction of $142,779.00. Following the completion of the sale, the director now directly owns 66,648 shares in the company, valued at $4,531,397.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Keith A. Sultana sold 3,071 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $68.81, for a total value of $211,315.51. Following the sale, the senior vice president now 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.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is currently 23.53%.
About Ingersoll-Rand PLC
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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