Ingersoll-Rand PLC (NYSE:IR) – Stock analysts at KeyCorp raised their Q3 2016 earnings estimates for shares of Ingersoll-Rand PLC in a research note issued on Wednesday. KeyCorp analyst J. Hammond now expects that the brokerage will earn $1.31 per share for the quarter, up from their prior estimate of $1.28. KeyCorp also issued estimates for Ingersoll-Rand PLC’s FY2016 earnings at $4.13 EPS.
Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm posted $1.20 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis.
IR has been the topic of a number of other reports. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. Zacks Investment Research downgraded Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. BMO Capital Markets assumed 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. 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. Finally, 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. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $68.00.
Ingersoll-Rand PLC (NYSE:IR) traded down 1.72% during mid-day trading on Friday, hitting $67.60. The stock had a trading volume of 824,822 shares. The stock has a market cap of $17.44 billion, a PE ratio of 12.45 and a beta of 1.26. The firm’s 50-day moving average price is $66.53 and its 200-day moving average price is $65.35. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97.
A number of institutional investors have recently bought and sold shares of IR. Vanguard Group Inc. increased its position in Ingersoll-Rand PLC by 1.7% in the second quarter. Vanguard Group Inc. now owns 15,011,170 shares of the company’s stock valued at $955,911,000 after buying an additional 244,964 shares during the last quarter. FMR LLC increased 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 last quarter. Boston Partners increased its position in Ingersoll-Rand PLC by 6.8% in the second quarter. Boston Partners now owns 4,844,683 shares of the company’s stock valued at $308,509,000 after buying an additional 310,230 shares during the last quarter. American Century Companies Inc. increased its position in Ingersoll-Rand PLC by 3.0% in the second quarter. American Century Companies Inc. now owns 4,676,382 shares of the company’s stock valued at $297,792,000 after buying an additional 134,737 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in Ingersoll-Rand PLC by 3.0% in the second quarter. BlackRock Fund Advisors now owns 4,084,583 shares of the company’s stock valued at $260,106,000 after buying an additional 118,905 shares during the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.
In related news, SVP Keith A. Sultana sold 3,071 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $68.81, for a total value of $211,315.51. Following the transaction, the senior vice president now owns 10,698 shares in the company, valued at $736,129.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marcia J. Avedon sold 5,815 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 117,192 shares in the company, valued at approximately $7,988,978.64. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be issued a $0.40 dividend. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. Ingersoll-Rand PLC’s dividend payout ratio is currently 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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