Share on StockTwits

Analysts at Morgan Stanley upped their target price on shares of Ingersoll-Rand PLC (NYSE:IR) from $68.00 to $69.00 in a research report issued to clients and investors on Tuesday. Morgan Stanley’s price target points to a potential upside of 10.97% from the stock’s previous close.

Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 62.18 on Tuesday. Ingersoll-Rand PLC has a one year low of $47.0607 and a one year high of $64.77. The stock has a 50-day moving average of $61.37 and a 200-day moving average of $59.70. The company has a market cap of $16.634 billion and a P/E ratio of 29.25.

Ingersoll-Rand PLC (NYSE:IR) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.11 by $0.02. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts predict that Ingersoll-Rand PLC will post $3.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Wednesday, September 10th.

A number of other firms have also recently commented on IR. Analysts at Robert W. Baird downgraded shares of Ingersoll-Rand PLC to a “neutral” rating in a research note on Tuesday. They now have a $65.00 price target on the stock, down previously from $68.00. Separately, analysts at ISI Group upgraded shares of Ingersoll-Rand PLC from a “neutral” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $66.00 price target on the stock, up previously from $62.00. Finally, analysts at Nomura reiterated a “neutral” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 23rd. They now have a $65.00 price target on the stock, up previously from $61.00. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $67.40.

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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.