Ingersoll-Rand PLC (NYSE:IR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm presently has a $85.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 13.74% from the company’s current price.

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. A strong and flexible balance sheet, robust operating portfolio, efficient management team and healthy cash flow to pursue opportunistic acquisitions remain additional tailwinds. Ingersoll also raised the guidance for 2016 on favorable growth dynamics. However, operating risks from high R&D costs for technology-driven products are expected to weigh on margins in the quarters ahead.”

A number of other research firms also recently commented on IR. KeyCorp reiterated a “hold” rating on shares of Ingersoll-Rand PLC in a research report on Monday, October 10th. Royal Bank Of Canada boosted their target price on Ingersoll-Rand PLC from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 27th. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Tuesday, October 18th. Buckingham Research downgraded Ingersoll-Rand PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 16th. Finally, Stifel Nicolaus decreased their target price on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $69.41.

Analyst Recommendations for Ingersoll-Rand PLC (NYSE:IR)

Ingersoll-Rand PLC (NYSE:IR) opened at 74.73 on Friday. The company’s 50-day moving average price is $69.87 and its 200 day moving average price is $67.07. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $76.45. The company has a market capitalization of $19.31 billion, a price-to-earnings ratio of 12.97 and a beta of 1.32.

Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.12. Ingersoll-Rand PLC had a return on equity of 17.70% and a net margin of 11.21%. The business earned $3.57 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. Ingersoll-Rand PLC’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts expect that Ingersoll-Rand PLC will post $4.20 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 annualized dividend and a yield of 2.14%. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s dividend payout ratio is 22.22%.

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In other Ingersoll-Rand PLC news, EVP Didier P. Teirlinck sold 28,117 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $67.51, for a total transaction of $1,898,178.67. Following the sale, the executive vice president now owns 135,532 shares of the company’s stock, valued at approximately $9,149,765.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total value of $142,779.00. Following the sale, the director now directly owns 66,648 shares in the company, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Apriem Advisors bought a new stake in shares of Ingersoll-Rand PLC during the third quarter valued at about $104,000. Synovus Financial Corp boosted its stake 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 stake 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 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 during the period. Finally, Global X Management Co. LLC boosted its stake 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. 81.48% of the stock is currently 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.

5 Day Chart for NYSE:IR

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