Ingersoll-Rand PLC (IR) Receives $109.85 Average PT from Brokerages
Ingersoll-Rand PLC (NYSE:IR) has received a consensus rating of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $109.85.
Several brokerages have recently commented on IR. Citigroup raised their price target on Ingersoll-Rand from $117.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, October 25th. Barclays raised their price target on Ingersoll-Rand from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Bank of America raised their price target on Ingersoll-Rand from $96.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Robert W. Baird set a $106.00 price target on Ingersoll-Rand and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, Morgan Stanley began coverage on Ingersoll-Rand in a research note on Monday, August 20th. They set an “overweight” rating and a $111.00 price target on the stock.
In other Ingersoll-Rand news, SVP Marcia J. Avedon sold 10,408 shares of Ingersoll-Rand stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $104.00, for a total value of $1,082,432.00. Following the transaction, the senior vice president now owns 125,098 shares in the company, valued at $13,010,192. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.
IR stock opened at $104.35 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.41. Ingersoll-Rand has a twelve month low of $79.63 and a twelve month high of $105.76. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 1.55 and a beta of 1.28.
Ingersoll-Rand (NYSE:IR) last released its earnings results on Wednesday, October 24th. The industrial products company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Ingersoll-Rand had a return on equity of 18.75% and a net margin of 10.03%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Ingersoll-Rand will post 5.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $2.12 annualized dividend and a dividend yield of 2.03%. Ingersoll-Rand’s dividend payout ratio is currently 47.01%.
Ingersoll-Rand declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 3rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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