Ingersoll-Rand PLC (IR) Shares Gap Up to $63.31
Ingersoll-Rand PLC (NYSE:IR) gapped up prior to trading on Monday . The stock had previously closed at $63.06, but opened at $63.31. Ingersoll-Rand PLC shares last traded at $64.14, with a volume of 845,299 shares trading hands.
A number of equities research analysts have issued reports on IR shares. Credit Suisse Group AG reiterated a “buy” rating and issued a $72.00 target price on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. Stifel Nicolaus cut their target price on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Zacks Investment Research cut Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Finally, BMO Capital Markets began 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 on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Ingersoll-Rand PLC has a consensus rating of “Buy” and an average target price of $67.94.
The company has a market cap of $16.64 billion, a PE ratio of 11.88 and a beta of 1.35. The firm has a 50-day moving average price of $66.85 and a 200 day moving average price of $64.75.
Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.08. The business earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. Equities analysts expect that Ingersoll-Rand PLC will post $4.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.28 annualized dividend and a yield of 2.00%. Ingersoll-Rand PLC’s payout ratio is currently 23.53%.
In other Ingersoll-Rand PLC news, insider Paul A. Camuti sold 2,436 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $67.91, for a total transaction of $165,428.76. Following the transaction, the insider now owns 52,240 shares in the company, valued at approximately $3,547,618.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total value of $142,779.00. Following the transaction, the director now owns 66,648 shares in the company, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. 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 worth $134,000 after buying an additional 679 shares during the period. Zions Bancorporation raised its position in Ingersoll-Rand PLC by 30.1% in the second quarter. Zions Bancorporation now owns 2,575 shares of the company’s stock worth $166,000 after buying an additional 596 shares during the period. CENTRAL TRUST Co raised its position in Ingersoll-Rand PLC by 60.2% in the second quarter. CENTRAL TRUST Co now owns 2,660 shares of the company’s stock worth $170,000 after buying an additional 1,000 shares during the period. Smith Asset Management Group LP bought a new position in Ingersoll-Rand PLC during the second quarter worth approximately $187,000. Finally, Williams Jones & Associates LLC bought a new position in Ingersoll-Rand PLC during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 80.97% 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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