Brokerages Set Ingersoll-Rand PLC (NYSE:IR) Target Price at $67.80
Shares of Ingersoll-Rand PLC (NYSE:IR) have received a consensus recommendation of “Buy” from the nineteen ratings firms that are covering the stock. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $67.80.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Ingersoll-Rand PLC from a “sell” rating to a “hold” rating and set a $77.00 price target on the stock in a report on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Stifel Nicolaus lowered their price objective on shares of 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. BMO Capital Markets started coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th.
In related news, SVP Keith A. Sultana sold 3,071 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $68.81, for a total transaction of $211,315.51. Following the completion of the sale, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $736,129.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total transaction of $142,779.00. Following the sale, the director now directly owns 66,648 shares of the company’s stock, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IR. Howe & Rusling Inc. boosted its stake in shares of Ingersoll-Rand PLC by 47.4% in the second quarter. Howe & Rusling Inc. now owns 2,112 shares of the company’s stock valued at $134,000 after buying an additional 679 shares in the last quarter. Washington Trust Bank boosted its stake in shares of Ingersoll-Rand PLC by 39.6% in the third quarter. Washington Trust Bank now owns 2,374 shares of the company’s stock valued at $161,000 after buying an additional 674 shares in the last quarter. Zions Bancorporation boosted its stake in shares of Ingersoll-Rand PLC by 30.1% in the second quarter. Zions Bancorporation now owns 2,575 shares of the company’s stock valued at $166,000 after buying an additional 596 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Ingersoll-Rand PLC by 60.2% in the second quarter. CENTRAL TRUST Co now owns 2,660 shares of the company’s stock valued at $170,000 after buying an additional 1,000 shares in the last quarter. Finally, Smith Asset Management Group LP acquired a new stake in shares of Ingersoll-Rand PLC during the second quarter valued at about $187,000. 80.97% of the stock is owned by institutional investors.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 67.45 on Friday. Ingersoll-Rand PLC has a 52 week low of $47.08 and a 52 week high of $68.97. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 12.42 and a beta of 1.26. The firm 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 released its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s payout ratio is currently 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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