Ingersoll-Rand PLC (NYSE:IR) Given Average Rating of “Buy” by Analysts
Ingersoll-Rand PLC (NYSE:IR) has been given a consensus recommendation of “Buy” by the nineteen ratings firms that are covering the firm. Seven investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $67.80.
Several research firms recently issued reports on IR. BMO Capital Markets began coverage on shares of Ingersoll-Rand PLC in a report on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 target price for the company. Stifel Nicolaus dropped their price target on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. Zacks Investment Research downgraded Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $72.00 price target on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 1.99% on Friday, hitting $67.41. 1,018,515 shares of the company traded hands. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 12.41 and a beta of 1.26. The firm’s 50 day moving average price is $66.53 and its 200-day moving average price is $65.35.
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Ingersoll-Rand PLC (NYSE:IR) last released its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.08. The company earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities research analysts expect that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be paid a $0.40 dividend. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 23.53%.
In other Ingersoll-Rand PLC news, Director Richard J. Swift sold 2,100 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total value of $142,779.00. Following the sale, the director now owns 66,648 shares in the company, valued at $4,531,397.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 3,071 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $68.81, for a total value of $211,315.51. Following the completion of the sale, the senior vice president now owns 10,698 shares in the company, valued at approximately $736,129.38. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in Ingersoll-Rand PLC by 47.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,895,791 shares of the company’s stock worth $248,084,000 after buying an additional 1,259,205 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ingersoll-Rand PLC by 484.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,439,166 shares of the company’s stock valued at $91,647,000 after buying an additional 1,192,726 shares in the last quarter. FMR LLC raised its position in shares of Ingersoll-Rand PLC by 13.4% in the second quarter. FMR LLC now owns 6,340,082 shares of the company’s stock valued at $403,736,000 after buying an additional 751,271 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Ingersoll-Rand PLC by 38.8% in the second quarter. Schroder Investment Management Group now owns 2,214,137 shares of the company’s stock valued at $140,997,000 after buying an additional 619,349 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of Ingersoll-Rand PLC during the second quarter valued at approximately $31,670,000. Institutional investors and hedge funds own 80.97% of the company’s stock.
About Ingersoll-Rand PLC
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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