Ingersoll-Rand PLC (IR) Receives Buy Rating from Jefferies Group
Several other equities research analysts also recently weighed in on the company. BMO Capital Markets started coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They issued an outperform rating and a $80.00 price target for the company. Stifel Nicolaus lowered their price target 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. Zacks Investment Research downgraded Ingersoll-Rand PLC from a buy rating to a hold rating in a report on Monday, August 1st. Credit Suisse Group AG reissued a buy rating and issued a $72.00 price target on shares of Ingersoll-Rand PLC in a report on Sunday, July 10th. Finally, KeyCorp reissued a hold rating on shares of Ingersoll-Rand PLC in a report on Monday, October 10th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $68.00.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 65.07 on Tuesday. The stock’s 50 day moving average is $66.12 and its 200 day moving average is $65.61. The stock has a market cap of $16.79 billion, a price-to-earnings ratio of 11.98 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 issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, beating 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 company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts predict that Ingersoll-Rand PLC will post $4.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a $0.40 dividend. The ex-dividend date is Wednesday, December 7th. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. Ingersoll-Rand PLC’s payout ratio is 23.53%.
In other news, Director Richard J. Swift sold 2,100 shares of Ingersoll-Rand PLC 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 sale, the director now directly owns 66,648 shares of the company’s stock, valued at $4,531,397.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marcia J. Avedon sold 5,815 shares of Ingersoll-Rand PLC 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 sale, the insider now directly owns 117,192 shares in the company, valued at $7,988,978.64. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of IR. Creative Planning raised its position in Ingersoll-Rand PLC by 0.7% in the third quarter. Creative Planning now owns 9,005 shares of the company’s stock worth $612,000 after buying an additional 61 shares during the period. Moody Lynn & Lieberson LLC raised its position in Ingersoll-Rand PLC by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 5,827 shares of the company’s stock worth $371,000 after buying an additional 77 shares during the period. First Allied Advisory Services Inc. raised its position in Ingersoll-Rand PLC by 1.3% in the second quarter. First Allied Advisory Services Inc. now owns 6,252 shares of the company’s stock worth $399,000 after buying an additional 78 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in Ingersoll-Rand PLC by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,893 shares of the company’s stock worth $1,266,000 after buying an additional 82 shares during the period. Finally, Advisor Partners LLC raised its position in Ingersoll-Rand PLC by 2.5% in the second quarter. Advisor Partners LLC now owns 4,181 shares of the company’s stock worth $266,000 after buying an additional 103 shares during the period. 81.01% of the stock is currently owned by hedge funds and other institutional investors.
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.
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.