Ingersoll-Rand PLC’s (IR) “Hold” Rating Reaffirmed at KeyCorp
Ingersoll-Rand PLC (NYSE:IR)‘s stock had its “hold” rating restated by equities research analysts at KeyCorp in a research report issued to clients and investors on Monday.
Several other equities research analysts have also recently issued reports on IR. Credit Suisse Group AG reaffirmed a “buy” rating and set a $72.00 target price on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. 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 target price on the stock. Stifel Nicolaus lowered their target price on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Jefferies Group reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a research note 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $68.00.
Ingersoll-Rand PLC (NYSE:IR) opened at 67.45 on Monday. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $68.97. The stock has a 50 day moving average of $66.54 and a 200-day moving average of $65.39. The company has a market capitalization of $17.40 billion, a PE ratio of 12.42 and a beta of 1.26.
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 the 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 company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be given a $0.40 dividend. This is an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, December 7th. Ingersoll-Rand PLC’s payout ratio is currently 23.53%.
In other news, Director Richard J. Swift sold 2,100 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total transaction of $142,779.00. Following the completion of the transaction, the director now directly owns 66,648 shares of the company’s stock, valued at $4,531,397.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Keith A. Sultana sold 3,071 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in IR. First American Bank bought a new position in shares of Ingersoll-Rand PLC during the third quarter worth approximately $774,000. Atalanta Sosnoff Capital LLC bought a new position in shares of Ingersoll-Rand PLC during the third quarter worth approximately $8,641,000. Fulton Bank N.A. increased its position in shares of Ingersoll-Rand PLC by 280.0% in the third quarter. Fulton Bank N.A. now owns 14,759 shares of the company’s stock worth $1,003,000 after buying an additional 10,875 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Ingersoll-Rand PLC during the third quarter worth approximately $257,000. Finally, Washington Trust Bank increased its position 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 worth $161,000 after buying an additional 674 shares in the last quarter. 80.96% 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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