Ingersoll-Rand PLC Coverage Initiated at Buckingham Research (IR)
Buckingham Research started coverage on shares of Ingersoll-Rand PLC (NYSE:IR) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley raised their price target on shares of Ingersoll-Rand PLC from $68.00 to $69.00 in a research note on Tuesday, August 19th. Separately, analysts at Robert W. Baird downgraded shares of Ingersoll-Rand PLC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 19th. They now have a $65.00 price target on the stock, down previously from $68.00. Finally, 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. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.79.
Ingersoll-Rand PLC (NYSE:IR) traded down 0.07% during mid-day trading on Thursday, hitting $59.88. 1,843,719 shares of the company’s stock traded hands. Ingersoll-Rand PLC has a 52 week low of $48.6901 and a 52 week high of $64.77. The stock has a 50-day moving average of $60.98 and a 200-day moving average of $59.94. The company has a market cap of $16.018 billion and a price-to-earnings ratio of 28.95.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings data on Tuesday, July 22nd. The company reported $1.13 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that Ingersoll-Rand PLC will post $3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders 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 1.67%. The ex-dividend date is Wednesday, September 10th.
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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