Ingersoll-Rand PLC CEO Unloads $1,041,209 in Stock (IR)
Ingersoll-Rand PLC (NYSE:IR) CEO Michael W. Lamach unloaded 18,883 shares of the company’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $55.14, for a total transaction of $1,041,208.62. Following the sale, the chief executive officer now directly owns 256,247 shares in the company, valued at approximately $14,129,460. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 1.82% during mid-day trading on Thursday, hitting $55.41. The stock had a trading volume of 3,032,430 shares. Ingersoll-Rand PLC has a 52 week low of $41.5575 and a 52 week high of $63.42. The stock’s 50-day moving average is $58.60 and its 200-day moving average is $57.02. The company has a market cap of $15.406 billion and a P/E ratio of 1254.22. Ingersoll-Rand PLC also was the target of a large decline in short interest in January. As of March 31st, there was short interest totalling 2,554,262 shares, a decline of 37.7% from the March 14th total of 4,100,280 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 2,923,509 shares, the short-interest ratio is currently 0.9 days.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.01. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that Ingersoll-Rand PLC will post $3.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, June 11th.
Several analysts have recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Ingersoll-Rand PLC from $58.00 to $62.00 in a research note on Friday, February 14th. They now have a “neutral” rating on the stock. Separately, analysts at Buckingham Research raised their price target on shares of Ingersoll-Rand PLC from $60.00 to $62.00 in a research note on Thursday, February 13th. Finally, analysts at RBC Capital cut their price target on shares of Ingersoll-Rand PLC from $67.00 to $64.00 in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.23.
Ingersoll-Rand plc (NYSE:IR) is a diversified, global company that provides products, services and solutions to enhance the comfort of air in homes and buildings, transport and protect food and perishables, secure homes and commercial properties.
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