Ingersoll-Rand PLC (IR) Earns “Hold” Rating from KeyCorp
Ingersoll-Rand PLC (NYSE:IR)‘s stock had its “hold” rating reaffirmed by equities researchers at KeyCorp in a report released on Monday.
Several other equities research analysts also recently weighed in on IR. Jefferies Group reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. BMO Capital Markets initiated coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They set an “outperform” rating and a $80.00 target price on the stock. Zacks Investment Research downgraded shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Credit Suisse Group AG reaffirmed a “buy” rating and set a $72.00 target price on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Finally, Stifel Nicolaus cut their target price on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $68.00.
Ingersoll-Rand PLC (NYSE:IR) traded down 0.34% on Monday, hitting $67.22. 830,879 shares of the company’s stock were exchanged. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $68.97. The company has a market cap of $17.34 billion, a PE ratio of 12.38 and a beta of 1.26. The company’s 50-day moving average price is $66.53 and its 200-day moving average price is $65.49.
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Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. Analysts forecast that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be issued a $0.40 dividend. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.38%. Ingersoll-Rand PLC’s dividend payout ratio is presently 23.53%.
In related news, insider Paul A. Camuti sold 2,436 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $67.91, for a total transaction of $165,428.76. Following the completion of the sale, the insider now owns 52,240 shares in the company, valued at approximately $3,547,618.40. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $211,315.51. Following the sale, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $736,129.38. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 in the last quarter. PNC Financial Services Group Inc. boosted its stake 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 worth $91,647,000 after buying an additional 1,192,726 shares in the last quarter. FMR LLC boosted its stake 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 worth $403,736,000 after buying an additional 751,271 shares in the last quarter. Schroder Investment Management Group boosted its stake 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 worth $140,997,000 after buying an additional 619,349 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Ingersoll-Rand PLC during the second quarter worth $31,670,000. Hedge funds and other institutional investors own 80.96% 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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