BMO Capital Markets Reaffirms Buy Rating for Ingersoll-Rand PLC (IR)
Ingersoll-Rand PLC (NYSE:IR)‘s stock had its “buy” rating reissued by analysts at BMO Capital Markets in a report released on Thursday. They currently have a $87.00 target price on the industrial products company’s stock. BMO Capital Markets’ target price points to a potential upside of 6.29% from the company’s previous close.
IR has been the subject of several other reports. Wells Fargo & Co raised shares of Ingersoll-Rand PLC from a “market perform” rating to an “outperform” rating in a research report on Monday, March 20th. Jefferies Group LLC restated a “buy” rating and set a $90.00 price target on shares of Ingersoll-Rand PLC in a report on Wednesday, December 21st. Zacks Investment Research upgraded shares of Ingersoll-Rand PLC from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. Evercore ISI cut shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Friday, February 10th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $84.00 price target on shares of Ingersoll-Rand PLC in a report on Sunday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $83.83.
Ingersoll-Rand PLC (NYSE:IR) opened at 81.85 on Thursday. Ingersoll-Rand PLC has a 52 week low of $59.10 and a 52 week high of $83.99. The company has a 50-day moving average of $80.70 and a 200-day moving average of $76.29. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 14.50 and a beta of 1.31.
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Ingersoll-Rand PLC (NYSE:IR) last posted its earnings results on Wednesday, February 1st. The industrial products company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.92 by $0.08. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. Ingersoll-Rand PLC had a return on equity of 16.70% and a net margin of 10.93%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. On average, equities analysts forecast that Ingersoll-Rand PLC will post $4.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, June 7th. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 28.42%.
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In other Ingersoll-Rand PLC news, EVP Didier P. Teirlinck sold 3,635 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $81.63, for a total value of $296,725.05. Following the transaction, the executive vice president now directly owns 110,069 shares in the company, valued at $8,984,932.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Keith A. Sultana sold 1,046 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $79.95, for a total transaction of $83,627.70. Following the completion of the transaction, the insider now owns 10,573 shares in the company, valued at $845,311.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,541 shares of company stock worth $2,159,114. 0.65% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boys Arnold & Co. Inc. boosted its position in Ingersoll-Rand PLC by 2.3% in the first quarter. Boys Arnold & Co. Inc. now owns 21,800 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 500 shares during the last quarter. Ledyard National Bank boosted its position in Ingersoll-Rand PLC by 2.7% in the first quarter. Ledyard National Bank now owns 5,678 shares of the industrial products company’s stock worth $462,000 after buying an additional 150 shares during the last quarter. Courier Capital LLC bought a new position in Ingersoll-Rand PLC during the first quarter worth $204,000. Quantitative Systematic Strategies LLC bought a new position in Ingersoll-Rand PLC during the first quarter worth $699,000. Finally, Washington Trust Bank boosted its position in Ingersoll-Rand PLC by 42.0% in the first quarter. Washington Trust Bank now owns 3,370 shares of the industrial products company’s stock worth $274,000 after buying an additional 996 shares during the last quarter. Hedge funds and other institutional investors own 82.76% 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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