Ingersoll-Rand PLC (NYSE:IR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Ingersoll continues to reposition its portfolio to focus on high-barrier markets that involve upfront cost and lead to earnings dilution in the near term. Operating risks from high R&D costs for technology-driven products are further expected to weigh on Ingersoll’s margins in the future. Post Brexit referendum, Ingersoll is also likely to be stifled by the renegotiated deals and restrictions imposed on trade with other EU members. The company has a positive earnings history in the trailing four quarters, while earnings estimates have remained steady in the last 7 days. Ingersoll is likely to achieve steady improvements in operating profitability with new products, investments in IT platform and enhancement of channel services footprint and product management capabilities. A disciplined capital allocation along with strong and flexible balance sheet position and steady cash flow remain additional tailwinds.”
Other equities analysts have also issued research reports about the stock. Credit Suisse Group AG restated a “buy” rating and set a $72.00 price target on shares of Ingersoll-Rand PLC in a research report on Sunday, July 10th. Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Wednesday, August 3rd. Stifel Nicolaus decreased their target price on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, BMO Capital Markets started coverage on shares of Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 target price for the company. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Ingersoll-Rand PLC currently has a consensus rating of “Buy” and a consensus target price of $67.94.
Ingersoll-Rand PLC (NYSE:IR) opened at 67.56 on Tuesday. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 12.44 and a beta of 1.26. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $68.97. The stock has a 50 day moving average of $66.49 and a 200-day moving average of $65.32.
Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.30 by $0.08. The business earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. On average, analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Wednesday, September 7th. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is 23.53%.
In other news, Director Richard J. Swift sold 2,100 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total value of $142,779.00. Following the completion of the sale, the director now directly owns 66,648 shares of the company’s stock, valued at $4,531,397.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul A. Camuti sold 2,436 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $67.91, for a total transaction of $165,428.76. Following the completion of the sale, the insider now directly owns 52,240 shares of the company’s stock, valued at $3,547,618.40. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Virginia Retirement System bought a new stake in Ingersoll-Rand PLC during the first quarter worth about $262,000. Pacad Investment Ltd. acquired a new position in shares of Ingersoll-Rand PLC during the first quarter valued at $645,000. Teachers Advisors Inc. raised its position in shares of Ingersoll-Rand PLC by 23.7% in the first quarter. Teachers Advisors Inc. now owns 891,721 shares of the company’s stock valued at $55,296,000 after buying an additional 170,673 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Ingersoll-Rand PLC by 1.2% in the first quarter. Prudential Financial Inc. now owns 316,923 shares of the company’s stock valued at $19,652,000 after buying an additional 3,670 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of Ingersoll-Rand PLC during the first quarter valued at $211,000. 80.97% of the stock is owned by institutional investors and hedge funds.
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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