Ingersoll-Rand PLC’s (IR) “Hold” Rating Reaffirmed at KeyCorp
Ingersoll-Rand PLC (NYSE:IR)‘s stock had its “hold” rating reaffirmed by research analysts at KeyCorp in a research note issued on Monday.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Stifel Nicolaus lowered their price objective 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 Wednesday, August 3rd. Credit Suisse Group AG restated a “buy” rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Finally, BMO Capital Markets began coverage on Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price objective for the company. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Ingersoll-Rand PLC has a consensus rating of “Buy” and a consensus target price of $68.00.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 67.45 on Monday. The stock’s 50 day moving average price is $66.54 and its 200 day moving average price is $65.39. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97. The stock has a market cap of $17.40 billion, a PE ratio of 12.42 and a beta of 1.26.
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Ingersoll-Rand PLC (NYSE:IR) last announced its earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating the consensus estimate 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 return on equity of 17.73% and a net margin of 10.71%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS. On average, equities research analysts anticipate that Ingersoll-Rand PLC will post $4.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s payout ratio is currently 23.53%.
In other Ingersoll-Rand PLC news, SVP Keith A. Sultana sold 3,071 shares of Ingersoll-Rand PLC 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of Ingersoll-Rand PLC stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total value of $142,779.00. Following the sale, the director now directly owns 66,648 shares in the company, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IR. Massachusetts Financial Services Co. MA increased 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 valued at $248,084,000 after buying an additional 1,259,205 shares during the last quarter. PNC Financial Services Group Inc. increased 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 valued at $91,647,000 after buying an additional 1,192,726 shares during the last quarter. FMR LLC increased 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 valued at $403,736,000 after buying an additional 751,271 shares during the last quarter. Schroder Investment Management Group increased 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 valued at $140,997,000 after buying an additional 619,349 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Ingersoll-Rand PLC during the second quarter valued at $31,670,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.
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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