According to Zacks, “Ingersoll continues to reposition its portfolio to focus on high-barrier markets that involve upfront cost and lead to earnings dilution in the near term. Operating risks from high R&D costs for technology-driven products are also expected to weigh on Ingersoll’s margins in the future. With operations outside the U.S, Ingersoll is highly exposed to political and economic disruptions, all of which can directly impact its profits. Post Brexit referendum, Ingersoll is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other EU members. The company has a positive earnings history in the trailing four quarters, while earnings estimates have remained steady in the last 7 days. Ingersoll is likely to achieve steady improvements in operating profitability with new products, investments in IT platform and enhancement of channel services footprint and product management capabilities.”
A number of other equities analysts have also recently commented on the company. Jefferies Group reiterated a buy rating on shares of Ingersoll-Rand PLC in a report on Wednesday, August 3rd. Stifel Nicolaus reduced their price objective on Ingersoll-Rand PLC from $77.00 to $75.00 and set a buy rating for the company in a report on Thursday, July 28th. BMO Capital Markets began coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They set an outperform rating and a $80.00 price objective for the company. Finally, Credit Suisse Group AG restated a buy rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a report on Sunday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $67.94.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 67.10 on Tuesday. The stock’s 50 day moving average price is $66.54 and its 200 day moving average price is $65.07. The company has a market cap of $17.31 billion, a P/E ratio of 12.35 and a beta of 1.35. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The business earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the company posted $1.20 earnings per share. Ingersoll-Rand PLC’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research 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, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.91%. Ingersoll-Rand PLC’s payout ratio is presently 23.53%.
In other Ingersoll-Rand PLC news, insider Marcia J. Avedon sold 5,815 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $68.17, for a total transaction of $396,408.55. Following the sale, the insider now owns 117,192 shares of the company’s stock, valued at $7,988,978.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard J. Swift sold 2,100 shares of the business’s stock in a transaction 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 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. Company insiders own 0.65% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Howe & Rusling Inc. boosted its stake in 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. Zions Bancorporation boosted its stake in 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 stake 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 valued at $170,000 after buying an additional 1,000 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Ingersoll-Rand PLC during the second quarter valued at $187,000. Finally, Oakworth Capital Inc. boosted its stake in shares of Ingersoll-Rand PLC by 2,097.9% in the second quarter. Oakworth Capital Inc. now owns 3,143 shares of the company’s stock valued at $210,000 after buying an additional 3,000 shares in the last quarter. 80.97% of the stock is currently owned by hedge funds and other institutional investors.
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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