Q3 2016 Earnings Forecast for Ingersoll-Rand PLC Issued By Jefferies Group (IR)
Ingersoll-Rand PLC (NYSE:IR) – Jefferies Group upped their Q3 2016 EPS estimates for Ingersoll-Rand PLC in a report issued on Monday. Jefferies Group analyst S. Volkmann now expects that the brokerage will post earnings of $1.30 per share for the quarter, up from their previous forecast of $1.28. Jefferies Group currently has a “Buy” rating on the stock.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly 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 earned $3.69 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.20 EPS.
A number of other equities analysts have also commented on 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 dropped their price objective on 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. Credit Suisse Group AG reiterated a “buy” rating and issued a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. KeyCorp reiterated a “hold” rating on shares of Ingersoll-Rand PLC in a research note on Monday, October 10th. Finally, BMO Capital Markets initiated coverage on Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Ingersoll-Rand PLC currently has an average rating of “Buy” and a consensus price target of $68.00.
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Ingersoll-Rand PLC (NYSE:IR) traded up 1.15% during mid-day trading on Wednesday, hitting $65.71. The stock had a trading volume of 690,224 shares. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 12.10 and a beta of 1.26. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $68.97. The company has a 50-day moving average of $66.12 and a 200-day moving average of $65.61.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Beutel Goodman & Co Ltd. bought a new position in Ingersoll-Rand PLC during the third quarter valued at $101,194,000. Massachusetts Financial Services Co. MA boosted its position 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 valued at $248,084,000 after buying an additional 1,259,205 shares during the period. PNC Financial Services Group Inc. boosted its position in 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 period. FMR LLC boosted its position in 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 period. Finally, Schroder Investment Management Group boosted its position in 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 period. Hedge funds and other institutional investors own 81.01% of the company’s stock.
In related news, SVP Keith A. Sultana sold 3,071 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $68.81, for a total value of $211,315.51. Following the completion of the transaction, the senior vice president now owns 10,698 shares in the company, valued at approximately $736,129.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Swift sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total transaction of $142,779.00. Following the completion of the transaction, 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 insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s payout ratio is 23.53%.
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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