Ingersoll-Rand PLC (IR) to Issue Dividend Increase – $0.40 Per Share
Ingersoll-Rand PLC (NYSE:IR) declared a quarterly dividend on Thursday, October 6th. Investors of record on Friday, December 9th will be paid a dividend of 0.40 per share on Friday, December 30th. This represents a $1.60 annualized dividend and a yield of 2.37%. This is an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded up 0.73% on Thursday, reaching $68.05. 355,762 shares of the company traded hands. The firm’s 50 day moving average is $66.49 and its 200 day moving average is $65.32. Ingersoll-Rand PLC has a one year low of $47.08 and a one year high of $68.97. The company has a market capitalization of $17.56 billion, a P/E ratio of 12.53 and a beta of 1.26.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Ingersoll-Rand PLC will post $4.09 earnings per share for the current fiscal year.
IR has been the topic of several recent research reports. 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 research report on Thursday, July 28th. Credit Suisse Group AG reiterated a “buy” rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a research report on Sunday, July 10th. BMO Capital Markets initiated coverage on Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price objective on the stock. Zacks Investment Research upgraded Ingersoll-Rand PLC from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Wednesday, August 3rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Ingersoll-Rand PLC currently has a consensus rating of “Buy” and a consensus price target of $67.94.
In related news, SVP Keith A. Sultana sold 3,071 shares of Ingersoll-Rand PLC stock in a transaction that occurred 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 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of Ingersoll-Rand PLC stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total value of $142,779.00. Following the completion of 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.
Several institutional investors have recently bought and sold shares of IR. FMR LLC raised 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 worth $403,736,000 after buying an additional 751,271 shares in the last quarter. American Century Companies Inc. raised its position in Ingersoll-Rand PLC by 3.0% in the second quarter. American Century Companies Inc. now owns 4,676,382 shares of the company’s stock worth $297,792,000 after buying an additional 134,737 shares in the last quarter. BlackRock Fund Advisors raised its position in Ingersoll-Rand PLC by 3.0% in the second quarter. BlackRock Fund Advisors now owns 4,084,583 shares of the company’s stock worth $260,106,000 after buying an additional 118,905 shares in the last quarter. Massachusetts Financial Services Co. MA raised 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 worth $248,084,000 after buying an additional 1,259,205 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in Ingersoll-Rand PLC by 10.8% in the second quarter. APG Asset Management N.V. now owns 681,737 shares of the company’s stock worth $43,413,000 after buying an additional 66,700 shares in the last quarter. 80.97% of the stock is currently owned by institutional investors.
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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