Ingersoll-Rand PLC (IR) Sets New 1-Year High at $68.76
Shares of Ingersoll-Rand PLC (NYSE:IR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $68.76 and last traded at $68.76, with a volume of 598,275 shares trading hands. The stock had previously closed at $67.64.
Several analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Credit Suisse Group AG reaffirmed a “buy” rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Finally, Stifel Nicolaus dropped their price objective 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. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Ingersoll-Rand PLC presently has an average rating of “Buy” and a consensus price target of $67.94.
The firm has a market cap of $17.74 billion and a P/E ratio of 12.66. The stock has a 50 day moving average price of $67.36 and a 200-day moving average price of $63.22.
Ingersoll-Rand PLC (NYSE:IR) last posted 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. During the same period in the prior year, the company posted $1.20 earnings per share. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Ingersoll-Rand PLC’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, September 7th.
In other news, insider Paul A. Camuti sold 2,436 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $67.91, for a total value of $165,428.76. Following the completion of the sale, the insider now directly owns 52,240 shares of the company’s stock, valued at $3,547,618.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marcia J. Avedon sold 5,815 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was 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 directly owns 117,192 shares of the company’s stock, valued at $7,988,978.64. The disclosure for this sale can be found here.
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.