Ingersoll-Rand PLC (IR) Sets New 52-Week High at $68.97
Ingersoll-Rand PLC (NYSE:IR) reached a new 52-week high during trading on Monday . The company traded as high as $68.97 and last traded at $68.53, with a volume of 1,076,100 shares trading hands. The stock had previously closed at $68.16.
A number of equities research analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 price objective on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Finally, Stifel Nicolaus reduced their price objective on shares of 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 eleven have assigned a buy rating to the company. Ingersoll-Rand PLC currently has a consensus rating of “Buy” and a consensus target price of $67.94.
The stock has a market capitalization of $17.68 billion and a P/E ratio of 12.62. The company’s 50 day moving average is $67.56 and its 200 day moving average is $63.77.
Ingersoll-Rand PLC (NYSE:IR) last issued its earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.30 by $0.08. The firm earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. Analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, September 7th.
In related news, insider Marcia J. Avedon sold 5,815 shares of Ingersoll-Rand PLC stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $68.17, for a total value of $396,408.55. Following the transaction, the insider now directly owns 117,192 shares of the company’s stock, valued at $7,988,978.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul A. Camuti sold 2,436 shares of Ingersoll-Rand PLC 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 completion of the transaction, the insider now directly owns 52,240 shares in the company, valued at $3,547,618.40. The disclosure for this sale can be found here.
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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