Ingersoll-Rand PLC (IR) to Issue Dividend Increase – $0.40 Per Share
Ingersoll-Rand PLC (NYSE:IR) declared a quarterly dividend on Thursday, October 6th. Investors of record on Friday, December 9th will be given a dividend of 0.40 per share on Friday, December 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32.
Ingersoll-Rand PLC (NYSE:IR) traded up 0.73% during trading on Thursday, hitting $68.05. The company had a trading volume of 355,762 shares. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 12.53 and a beta of 1.26. The company’s 50 day moving average price is $66.49 and its 200-day moving average price is $65.32. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97.
Ingersoll-Rand PLC (NYSE:IR) last announced its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
In other news, Director Richard J. Swift sold 2,100 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 66,648 shares of the company’s stock, valued at approximately $4,531,397.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $396,408.55. Following the completion of the transaction, the insider now directly owns 117,192 shares of the company’s stock, valued at approximately $7,988,978.64. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board raised its position in shares of Ingersoll-Rand PLC by 25.9% in the second quarter. Canada Pension Plan Investment Board now owns 91,761 shares of the company’s stock valued at $5,843,000 after buying an additional 18,882 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Ingersoll-Rand PLC during the second quarter valued at about $1,279,000. Advisor Partners LLC raised its position in shares of Ingersoll-Rand PLC by 2.5% in the second quarter. Advisor Partners LLC now owns 4,181 shares of the company’s stock valued at $266,000 after buying an additional 103 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Ingersoll-Rand PLC by 3.2% in the second quarter. Commonwealth Bank of Australia now owns 34,700 shares of the company’s stock valued at $2,209,000 after buying an additional 1,077 shares in the last quarter. Finally, Tredje AP fonden raised its position in shares of Ingersoll-Rand PLC by 37.1% in the second quarter. Tredje AP fonden now owns 35,176 shares of the company’s stock valued at $2,248,000 after buying an additional 9,511 shares in the last quarter. 80.97% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on IR. Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. Zacks Investment Research lowered Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. BMO Capital Markets began coverage on Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Credit Suisse Group AG restated a “buy” rating and issued a $72.00 target price on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. 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 note on Thursday, July 28th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $67.94.
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.
Receive News & Ratings for Ingersoll-Rand PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand PLC and related companies with MarketBeat.com's FREE daily email newsletter.