KeyCorp Analysts Raise Earnings Estimates for Ingersoll-Rand PLC (IR)
Ingersoll-Rand PLC (NYSE:IR) – Equities researchers at KeyCorp raised their Q3 2016 earnings estimates for Ingersoll-Rand PLC in a report released on Wednesday. KeyCorp analyst J. Hammond now expects that the brokerage will post earnings per share of $1.31 for the quarter, up from their previous forecast of $1.28. KeyCorp also issued estimates for Ingersoll-Rand PLC’s FY2016 earnings at $4.13 EPS.
Ingersoll-Rand PLC (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 quarter last year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year.
Several other equities analysts have also weighed in on IR. 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. BMO Capital Markets initiated coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price objective for the company. Stifel Nicolaus reduced their price objective on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a report on Thursday, July 28th. Finally, Zacks Investment Research lowered Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Ingersoll-Rand PLC currently has a consensus rating of “Buy” and a consensus price target of $68.00.
Ingersoll-Rand PLC (NYSE:IR) opened at 67.45 on Friday. 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 stock has a 50 day moving average price of $66.54 and a 200 day moving average price of $65.39. Ingersoll-Rand PLC has a 52 week low of $47.08 and a 52 week high of $68.97.
Several hedge funds and other institutional investors have recently made changes to their positions in IR. Wellington Management Group LLP boosted its position in shares of Ingersoll-Rand PLC by 38.0% in the first quarter. Wellington Management Group LLP now owns 1,552,665 shares of the company’s stock worth $96,281,000 after buying an additional 427,812 shares during the period. Geode Capital Management LLC boosted its position in shares of Ingersoll-Rand PLC by 0.3% in the first quarter. Geode Capital Management LLC now owns 2,093,664 shares of the company’s stock worth $129,566,000 after buying an additional 5,470 shares during the period. UBS Group AG boosted its position in shares of Ingersoll-Rand PLC by 9.5% in the first quarter. UBS Group AG now owns 780,103 shares of the company’s stock worth $48,375,000 after buying an additional 67,878 shares during the period. BB&T Securities LLC boosted its position in shares of Ingersoll-Rand PLC by 178.2% in the first quarter. BB&T Securities LLC now owns 10,600 shares of the company’s stock worth $657,000 after buying an additional 6,790 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Ingersoll-Rand PLC by 7.3% in the first quarter. Canada Pension Plan Investment Board now owns 72,879 shares of the company’s stock worth $4,519,000 after buying an additional 4,929 shares during the period. 80.97% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Keith A. Sultana sold 3,071 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Swift sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total value 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. Company insiders own 0.65% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be given a dividend of $0.40 per share. This is an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 23.53%.
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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