Ingersoll-Rand PLC (IR) Stock Rating Reaffirmed by Jefferies Group
Ingersoll-Rand PLC (NYSE:IR)‘s stock had its “buy” rating restated by analysts at Jefferies Group in a research note issued on Tuesday.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Stifel Nicolaus dropped their price objective on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Credit Suisse Group AG reissued a “buy” rating and issued a $72.00 price objective on shares of Ingersoll-Rand PLC in a research report on Sunday, July 10th. KeyCorp reissued a “hold” rating on shares of Ingersoll-Rand PLC in a research report on Monday, October 10th. Finally, BMO Capital Markets initiated coverage on shares of Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.00.
Ingersoll-Rand PLC (NYSE:IR) opened at 65.27 on Tuesday. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $68.97. The company’s 50-day moving average is $66.22 and its 200-day moving average is $65.59. The firm has a market capitalization of $16.84 billion, a P/E ratio of 12.02 and a beta of 1.26.
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Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Ingersoll-Rand PLC will post $4.09 EPS for the current 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 paid a $0.40 dividend. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is 23.53%.
In related news, insider Marcia J. Avedon sold 5,815 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $68.17, for a total value of $396,408.55. Following the completion of the sale, the insider now owns 117,192 shares in the company, valued at $7,988,978.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Swift sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total transaction of $142,779.00. Following the completion of the sale, the director now owns 66,648 shares of the company’s stock, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Howe & Rusling Inc. boosted its position in shares of Ingersoll-Rand PLC by 47.4% in the second quarter. Howe & Rusling Inc. now owns 2,112 shares of the company’s stock worth $134,000 after buying an additional 679 shares during the last quarter. Washington Trust Bank boosted its position in shares of Ingersoll-Rand PLC by 39.6% in the third quarter. Washington Trust Bank now owns 2,374 shares of the company’s stock worth $161,000 after buying an additional 674 shares during the last quarter. Zions Bancorporation boosted its position in shares of Ingersoll-Rand PLC by 30.1% in the second quarter. Zions Bancorporation now owns 2,575 shares of the company’s stock worth $166,000 after buying an additional 596 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Ingersoll-Rand PLC by 60.2% in the second quarter. CENTRAL TRUST Co now owns 2,660 shares of the company’s stock worth $170,000 after buying an additional 1,000 shares during the last quarter. Finally, Smith Asset Management Group LP acquired a new position in shares of Ingersoll-Rand PLC during the second quarter worth about $187,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Ingersoll-Rand PLC Company Profile
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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