Ingersoll-Rand PLC (IR) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Ingersoll reported strong third-quarter 2016 results with healthy year-over-year increase in both earnings and revenues that exceeded the respective Zacks Consensus Estimate. Ingersoll is focusing on improving the efficiencies and capabilities of products and services within its core businesses after the divesture of the commercial and residential security businesses. The geographic and industry diversity, coupled with a large installed product base provides ample growth opportunities within service, spare parts and replacement revenue streams. However, operating risks from high R&D costs for technology-driven products are expected to weigh on margins in the quarters ahead. Moreover, intense competitive pressure and adverse foreign currency impact are likely to hinder its profitability to some extent. In addition, restructuring actions are likely to lead to near-term earnings dilution for the company.”
A number of other equities analysts have also recently commented on IR. Stifel Nicolaus dropped their price target 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. Jefferies Group reaffirmed a buy rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. KeyCorp reaffirmed a hold rating on shares of Ingersoll-Rand PLC in a research note on Monday, October 10th. Royal Bank Of Canada lifted their price target on shares of Ingersoll-Rand PLC from $74.00 to $76.00 and gave the stock a sector perform rating in a research note on Thursday, October 27th. Finally, Buckingham Research cut shares of Ingersoll-Rand PLC from a buy rating to a neutral rating in a research note on Wednesday, November 16th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $69.35.
Ingersoll-Rand PLC (NYSE:IR) opened at 75.45 on Monday. The company has a market capitalization of $19.49 billion, a P/E ratio of 13.09 and a beta of 1.32. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $76.45. The company has a 50-day moving average of $68.95 and a 200-day moving average of $66.78.
Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.55 billion. Ingersoll-Rand PLC had a net margin of 11.21% and a return on equity of 17.70%. Ingersoll-Rand PLC’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. Equities analysts expect that Ingersoll-Rand PLC will post $4.20 EPS for the current fiscal 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 issued a $0.40 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s payout ratio is currently 22.22%.
In other news, Director Richard J. Swift sold 2,100 shares of the business’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 completion of the sale, the director now owns 66,648 shares in the company, valued at approximately $4,531,397.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul A. Camuti sold 2,436 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $67.91, for a total transaction of $165,428.76. Following the completion of the sale, the insider now owns 52,240 shares of the company’s stock, valued at approximately $3,547,618.40. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Apriem Advisors purchased a new position in Ingersoll-Rand PLC during the third quarter valued at approximately $104,000. Synovus Financial Corp raised its position in 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 raised its position in 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. raised its position in 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 increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 80.18% of the company’s stock.
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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