Ingersoll-Rand PLC (IR) Reaches New 1-Year High at $68.76
Ingersoll-Rand PLC (NYSE:IR)’s share price reached a new 52-week high on Monday . The company traded as high as $68.76 and last traded at $68.76, with a volume of 598,275 shares. The stock had previously closed at $67.64.
IR has been the subject of a number of research analyst reports. Credit Suisse Group AG reiterated a “buy” rating and set a $72.00 price target on shares of Ingersoll-Rand PLC in a report on Sunday, July 10th. Zacks Investment Research upgraded Ingersoll-Rand PLC from a “hold” rating to a “strong-buy” rating and set a $76.00 target price for the company in a report on Monday, June 6th. Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a report on Wednesday, August 3rd. Stifel Nicolaus lowered their target price 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. Finally, BMO Capital Markets assumed coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $67.94.
The stock has a market cap of $17.60 billion and a P/E ratio of 12.56. The company has a 50-day moving average of $67.50 and a 200-day moving average of $63.67.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.08. During the same period last year, the firm posted $1.20 EPS. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Ingersoll-Rand PLC’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, September 7th.
In other news, insider Marcia J. Avedon sold 5,815 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $68.17, for a total value of $396,408.55. Following the completion of the sale, the insider now owns 117,192 shares of the company’s stock, valued at $7,988,978.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul A. Camuti sold 2,436 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was 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 approximately $3,547,618.40. 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.