Ingersoll-Rand PLC (IR) Rating Reiterated by KeyCorp
Ingersoll-Rand PLC (NYSE:IR)‘s stock had its “hold” rating reissued by equities research analysts at KeyCorp in a research note issued on Monday.
A number of other analysts have also weighed in on IR. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. 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. Zacks Investment Research lowered Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. 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. Finally, Stifel Nicolaus dropped their price target 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $68.00.
Ingersoll-Rand PLC (NYSE:IR) opened at 64.78 on Monday. The stock has a 50 day moving average price of $66.46 and a 200 day moving average price of $65.48. The stock has a market cap of $16.71 billion, a price-to-earnings ratio of 11.93 and a beta of 1.26. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $68.97.
Ingersoll-Rand PLC (NYSE:IR) last released 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. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 23.53%.
In other news, Director Richard J. Swift sold 2,100 shares of the firm’s stock in a transaction dated 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 directly owns 66,648 shares in the company, valued at $4,531,397.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Keith A. Sultana sold 3,071 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $68.81, for a total value of $211,315.51. Following the completion of the transaction, the senior vice president now owns 10,698 shares of the company’s stock, valued at $736,129.38. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Howe & Rusling Inc. boosted its position 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 last quarter. Washington Trust Bank boosted its position in shares of Ingersoll-Rand PLC by 39.6% in the third quarter. Washington Trust Bank now owns 2,374 shares of the company’s stock valued at $161,000 after buying an additional 674 shares during the last quarter. Zions Bancorporation boosted its position in shares of Ingersoll-Rand PLC by 30.1% in the second quarter. Zions Bancorporation now owns 2,575 shares of the company’s stock valued at $166,000 after buying an additional 596 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Ingersoll-Rand PLC by 60.2% in the second quarter. CENTRAL TRUST Co now owns 2,660 shares of the company’s stock valued at $170,000 after buying an additional 1,000 shares during the last quarter. Finally, Smith Asset Management Group LP purchased a new position in shares of Ingersoll-Rand PLC during the second quarter valued at about $187,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.
About Ingersoll-Rand PLC
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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