Zacks Investment Research upgraded shares of Ingersoll-Rand PLC (NYSE:IR) from a sell rating to a hold rating in a research report released on Tuesday. They currently have $77.00 target price on the stock.
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 further expected to weigh on Ingersoll’s margins in the future. Post Brexit referendum, Ingersoll is also 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 disciplined capital allocation along with strong and flexible balance sheet position and steady cash flow remain additional tailwinds.”
Other equities analysts also recently issued research reports about the stock. Credit Suisse Group AG reissued a buy rating and issued a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Jefferies Group reissued a buy rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Stifel Nicolaus dropped their price objective on shares of 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. Finally, BMO Capital Markets assumed coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an outperform rating and a $80.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Ingersoll-Rand PLC currently has an average rating of Buy and an average target price of $68.00.
Ingersoll-Rand PLC (NYSE:IR) opened at 68.27 on Tuesday. The company has a market cap of $17.61 billion, a PE ratio of 12.57 and a beta of 1.26. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $68.97. The company has a 50-day moving average of $66.53 and a 200 day moving average of $65.35.
Ingersoll-Rand PLC (NYSE:IR) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.08. The business earned $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. Equities research analysts predict that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be issued a dividend of $0.40 per share. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is currently 23.53%.
In other news, Director Richard J. Swift sold 2,100 shares of Ingersoll-Rand PLC 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 transaction, the director now directly owns 66,648 shares in the company, valued at $4,531,397.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul A. Camuti sold 2,436 shares of Ingersoll-Rand PLC stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $67.91, for a total transaction of $165,428.76. Following the transaction, the insider now owns 52,240 shares of the company’s stock, valued at $3,547,618.40. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its position 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 worth $248,084,000 after buying an additional 1,259,205 shares in the last quarter. PNC Financial Services Group Inc. boosted its position 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 worth $91,647,000 after buying an additional 1,192,726 shares in the last quarter. FMR LLC boosted its position 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 worth $403,736,000 after buying an additional 751,271 shares in the last quarter. Schroder Investment Management Group boosted its position 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 worth $140,997,000 after buying an additional 619,349 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Ingersoll-Rand PLC during the second quarter worth about $31,670,000. Hedge funds and other institutional investors own 80.97% of the company’s stock.
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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