Ingersoll-Rand PLC (IR) Stock Rating Upgraded by Zacks Investment Research
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.”
IR has been the subject of a number of other research reports. Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Thursday, July 28th. BMO Capital Markets began coverage on shares of Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 target price for the company. Credit Suisse Group AG restated a “buy” rating and set a $72.00 target price on shares of Ingersoll-Rand PLC in a research report on Sunday, July 10th. Finally, Stifel Nicolaus cut 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. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $67.94.
Ingersoll-Rand PLC (NYSE:IR) traded down 0.41% during mid-day trading on Tuesday, hitting $67.46. 547,947 shares of the stock traded hands. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $68.97. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 12.42 and a beta of 1.26. The firm’s 50-day moving average is $66.52 and its 200-day moving average is $65.27.
Ingersoll-Rand PLC (NYSE:IR) last announced its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The company earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share. Equities research analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.89%. Ingersoll-Rand PLC’s payout ratio is currently 23.53%.
In other news, SVP Keith A. Sultana sold 3,071 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $68.81, for a total transaction of $211,315.51. Following the transaction, the senior vice president now directly owns 10,698 shares of the company’s stock, valued at $736,129.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard J. Swift sold 2,100 shares of the business’s 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 transaction, the director now directly owns 66,648 shares in the company, valued at $4,531,397.52. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Virginia Retirement System bought a new stake in Ingersoll-Rand PLC during the first quarter valued at about $262,000. Pacad Investment Ltd. bought a new stake in Ingersoll-Rand PLC during the first quarter valued at about $645,000. Teachers Advisors Inc. boosted its stake in 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 in the last quarter. Prudential Financial Inc. boosted its stake in 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 in the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new stake in Ingersoll-Rand PLC during the first quarter valued at about $211,000. 80.97% of the stock is currently 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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