Ingersoll-Rand PLC (IR) Receives Buy Rating from Jefferies Group
A number of other equities analysts have also commented on IR. BMO Capital Markets assumed coverage on shares of Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They issued an outperform rating and a $80.00 price objective for the company. KeyCorp restated a hold rating on shares of Ingersoll-Rand PLC in a research report on Monday, October 10th. Zacks Investment Research lowered shares of Ingersoll-Rand PLC from a buy rating to a hold rating in a research report on Monday, August 1st. Credit Suisse Group AG reiterated 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 dropped 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. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $68.00.
Ingersoll-Rand PLC (NYSE:IR) opened at 65.07 on Tuesday. The firm has a market capitalization of $16.79 billion, a PE ratio of 11.98 and a beta of 1.26. The firm has a 50-day moving average of $66.12 and a 200 day moving average of $65.61. Ingersoll-Rand PLC has a 12 month low of $47.08 and a 12 month high of $68.97.
Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates 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 earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the business earned $1.20 earnings per share. Ingersoll-Rand PLC’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s dividend payout ratio is presently 23.53%.
In other news, insider Marcia J. Avedon sold 5,815 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $68.17, for a total transaction of $396,408.55. Following the completion of the sale, the insider now owns 117,192 shares of the company’s stock, valued at approximately $7,988,978.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.
Large investors have recently added to or reduced their stakes in the stock. Farmers Trust Co. raised its stake in Ingersoll-Rand PLC by 19.0% in the third quarter. Farmers Trust Co. now owns 65,974 shares of the company’s stock valued at $4,482,000 after buying an additional 10,544 shares during the last quarter. Renaissance Investment Group LLC acquired a new stake in Ingersoll-Rand PLC during the third quarter valued at approximately $210,000. MSI Financial Services Inc raised its stake in Ingersoll-Rand PLC by 54.9% in the third quarter. MSI Financial Services Inc now owns 4,584 shares of the company’s stock valued at $311,000 after buying an additional 1,624 shares during the last quarter. Capstone Asset Management Co. raised its stake in Ingersoll-Rand PLC by 2.9% in the third quarter. Capstone Asset Management Co. now owns 21,108 shares of the company’s stock valued at $1,434,000 after buying an additional 595 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. acquired a new stake in Ingersoll-Rand PLC during the third quarter valued at approximately $101,194,000. 81.01% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Ingersoll-Rand PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand PLC and related stocks with our FREE daily email newsletter.