Ingersoll-Rand PLC (IR) Reaches New 52-Week High at $68.69
Ingersoll-Rand PLC (NYSE:IR)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $68.69 and last traded at $68.36, with a volume of 918,757 shares changing hands. The stock had previously closed at $67.34.
IR has been the topic of several recent analyst reports. Credit Suisse Group AG reissued a “buy” rating and issued a $72.00 price target on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Zacks Investment Research raised Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Thursday, April 28th. Jefferies Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Ingersoll-Rand PLC in a research report on Wednesday, April 27th. Citigroup Inc. upped their target price on Ingersoll-Rand PLC from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, April 19th. Finally, Buckingham Research raised Ingersoll-Rand PLC from a “neutral” rating to a “buy” rating and upped their target price for the stock from $60.00 to $71.00 in a research report on Thursday, April 14th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Ingersoll-Rand PLC currently has a consensus rating of “Buy” and a consensus price target of $67.94.
The firm has a market capitalization of $17.63 billion and a PE ratio of 12.59. The stock’s 50-day moving average price is $65.74 and its 200 day moving average price is $61.33.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.08. During the same quarter in the previous year, the business earned $1.20 EPS. The firm earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts expect that Ingersoll-Rand PLC will post $4.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.87%.
In other Ingersoll-Rand PLC news, SVP Paul A. Camuti sold 4,800 shares of Ingersoll-Rand PLC stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $49.20, for a total transaction of $236,160.00. Following the completion of the transaction, the senior vice president now owns 54,456 shares in the company, valued at $2,679,235.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and institutional investors have bought and sold shares of IR. Suntrust Banks Inc. boosted its position in Ingersoll-Rand PLC by 20.7% in the fourth quarter. Suntrust Banks Inc. now owns 20,499 shares of the company’s stock valued at $1,131,000 after buying an additional 3,510 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Ingersoll-Rand PLC by 19.3% in the fourth quarter. Trexquant Investment LP now owns 58,112 shares of the company’s stock valued at $3,213,000 after buying an additional 9,412 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Ingersoll-Rand PLC by 22.0% in the fourth quarter. Bank of Montreal Can now owns 76,445 shares of the company’s stock valued at $4,227,000 after buying an additional 13,793 shares during the last quarter. I.G. Investment Management LTD. raised its stake in shares of Ingersoll-Rand PLC by 15.6% in the fourth quarter. I.G. Investment Management LTD. now owns 158,700 shares of the company’s stock valued at $8,775,000 after buying an additional 21,360 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Ingersoll-Rand PLC by 11.4% in the fourth quarter. KBC Group NV now owns 185,166 shares of the company’s stock valued at $10,238,000 after buying an additional 18,994 shares during the last quarter.
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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