Buckingham Research Downgrades Ingersoll-Rand PLC (IR) to Neutral
Ingersoll-Rand PLC (NYSE:IR) was downgraded by equities research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued on Wednesday.
A number of other analysts have also commented on the company. Zacks Investment Research lowered Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Stifel Nicolaus cut 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 reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a report on Wednesday, August 3rd. KeyCorp reaffirmed a “hold” rating on shares of Ingersoll-Rand PLC in a report on Monday, October 10th. Finally, Royal Bank Of Canada lifted their price objective on Ingersoll-Rand PLC from $74.00 to $76.00 and gave the stock a “sector perform” rating in a report on Thursday, October 27th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $69.12.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 75.92 on Wednesday. The firm has a market cap of $19.61 billion, a P/E ratio of 13.17 and a beta of 1.32. Ingersoll-Rand PLC has a one year low of $47.08 and a one year high of $75.94. The firm’s 50-day moving average price is $67.52 and its 200 day moving average price is $66.35.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings results on Wednesday, October 26th. The company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.12. The company earned $3.57 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Ingersoll-Rand PLC had a return on equity of 17.70% and a net margin of 11.21%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Analysts predict that Ingersoll-Rand PLC will post $4.20 EPS for the current year.
The firm 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. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. Ingersoll-Rand PLC’s dividend payout ratio is currently 22.22%.
In other news, EVP Didier P. Teirlinck sold 9,090 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $70.00, for a total transaction of $636,300.00. Following the transaction, the executive vice president now owns 116,709 shares of the company’s stock, valued at $8,169,630. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary S. Michel sold 10,708 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $74.00, for a total value of $792,392.00. Following the completion of the transaction, the insider now directly owns 37,005 shares in the company, valued at approximately $2,738,370. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Apriem Advisors purchased a new position in shares of Ingersoll-Rand PLC during the third quarter valued at about $104,000. Synovus Financial Corp boosted its position in shares of Ingersoll-Rand PLC by 175.2% in the third quarter. Synovus Financial Corp now owns 1,544 shares of the company’s stock valued at $105,000 after buying an additional 983 shares during the period. Penserra Capital Management LLC boosted its position in shares of Ingersoll-Rand PLC by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,872 shares of the company’s stock valued at $127,000 after buying an additional 936 shares during the period. Howe & Rusling Inc. boosted its position 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 during the period. Finally, Global X Management Co. LLC boosted its position in shares of Ingersoll-Rand PLC by 165.7% in the third quarter. Global X Management Co. LLC now owns 2,136 shares of the company’s stock valued at $145,000 after buying an additional 1,332 shares during the period. 81.71% 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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