Other equities analysts have also issued research reports about the stock. 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. Stifel Nicolaus decreased their target price 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. Jefferies Group reissued a buy rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. Zacks Investment Research lowered shares of Ingersoll-Rand PLC from a buy rating to a hold rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG reissued a buy rating and set a $72.00 target price on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $68.00.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 1.53% during mid-day trading on Monday, reaching $66.19. The company had a trading volume of 221,046 shares. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $68.97. The stock has a market capitalization of $17.08 billion, a P/E ratio of 12.19 and a beta of 1.26. The company’s 50-day moving average is $66.53 and its 200 day moving average is $65.49.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings data 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 net margin of 10.71% and a return on equity of 17.73%. The firm earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the business posted $1.20 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Ingersoll-Rand PLC will post $4.09 EPS for the current fiscal year.
The business 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 an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.38%. Ingersoll-Rand PLC’s payout ratio is presently 23.53%.
In other news, SVP Keith A. Sultana sold 3,071 shares of Ingersoll-Rand PLC stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $68.81, for a total transaction of $211,315.51. Following the sale, the senior vice president now directly owns 10,698 shares in the company, valued at approximately $736,129.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marcia J. Avedon sold 5,815 shares of Ingersoll-Rand PLC stock in a transaction dated 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 in the company, valued at $7,988,978.64. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of 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 period. FMR LLC raised its stake 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 valued at $403,736,000 after buying an additional 751,271 shares during the period. Boston Partners raised its stake in shares of 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 period. American Century Companies Inc. raised its stake in shares of 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 period. Finally, BlackRock Fund Advisors raised its stake in shares of 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 period. Institutional investors and hedge funds own 80.96% 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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