Research Analysts’ Weekly Ratings Changes for Ingersoll-Rand (IR)

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A number of firms have modified their ratings and price targets on shares of Ingersoll-Rand (NYSE: IR) recently:

  • 5/14/2019 – Ingersoll-Rand was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the past three months, Ingersoll's shares have outperformed the industry. The company believes that stellar sales generated from the Commercial and residential HVAC market will bolster revenues in the quarters ahead. Further, robust sales volume, increased productivity, pricing actions and new investments made toward footprint-optimization initiatives are expected to boost profitability. Also, the Precision Flow Systems buyout (when completed) will strengthen the fluid management business. For 2019, Ingersoll has revised its earnings view from $6.15-$6.35 per share to roughly $6.35. However, the stock looks overvalued compared to its industry over the past year. Material cost inflation, rising pension-related expenses and ongoing restructuring expenses might continue to weigh over Ingersoll's near-term profitability. Moreover, increases in debt levels can inflate the company’s financial obligations.”
  • 5/13/2019 – Ingersoll-Rand was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $138.00 price target on the stock. According to Zacks, “Over the past three months, Ingersoll's shares have outperformed the industry. The company believes that stellar sales generated from the Commercial and residential HVAC market will bolster revenues in the quarters ahead. Further, increased productivity, pricing actions and new investments made toward footprint-optimization initiatives are expected to boost profitability. Also, the Precision Flow Systems buyout (when completed) will strengthen the fluid management business. Margins and earnings accretion are predicted in the first year of the completion of this buyout. For 2019, Ingersoll has revised its earnings view from $6.15-$6.35 per share to roughly $6.35. Revenues are predicted to grow 4-5% year over year, with organic sales increasing 5-6%. In the past 30 days, earnings estimates for the stock increased for both 2019 and 2020.”
  • 5/6/2019 – Ingersoll-Rand had its price target raised by analysts at BMO Capital Markets from $112.00 to $140.00. They now have an “outperform” rating on the stock.
  • 5/6/2019 – Ingersoll-Rand was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the past three months, Ingersoll's shares have outperformed the industry. The company believes that stellar sales generated from the Commercial and residential HVAC market will bolster revenues in the quarters ahead. Further, robust sales volume, increased productivity, pricing actions and new investments made toward footprint-optimization initiatives are expected to boost profitability. Also, the Precision Flow Systems buyout (when completed) will strengthen the fluid management business. For 2019, Ingersoll has revised its earnings view from $6.15-$6.35 per share to roughly $6.35. However, the stock looks overvalued compared to its industry over the past year. Material cost inflation, rising pension-related expenses and ongoing restructuring expenses might continue to weigh over Ingersoll's near-term profitability. Moreover, increases in debt levels can inflate the company’s financial obligations.”
  • 5/2/2019 – Ingersoll-Rand was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $137.00 price target on the stock. According to Zacks, “Over the past three months, Ingersoll's shares have outperformed the industry. The company’s first-quarter 2019 organic revenues grew 8% on a year-over-year basis. It believes that stellar sales generated from the Commercial and residential HVAC market will bolster revenues in the quarters ahead. Further, robust sales volume, increased productivity, pricing actions and new investments made toward footprint-optimization initiatives are expected to boost profitability. Also, the Precision Flow Systems buyout (when completed) will strengthen the fluid management business. Margins and earnings accretion are predicted in the first year of the completion of this buyout. For 2019, Ingersoll has revised its earnings view from $6.15-$6.35 per share to roughly $6.35. Revenues are predicted to grow 4-5% year over year, with organic sales increasing 5-6%.”
  • 5/1/2019 – Ingersoll-Rand had its price target raised by analysts at Barclays PLC from $115.00 to $135.00. They now have an “overweight” rating on the stock.
  • 5/1/2019 – Ingersoll-Rand had its price target raised by analysts at KeyCorp from $130.00 to $135.00. They now have an “overweight” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 5/1/2019 – Ingersoll-Rand had its price target raised by analysts at Credit Suisse Group AG from $122.00 to $130.00. They now have an “outperform” rating on the stock.
  • 5/1/2019 – Ingersoll-Rand had its price target raised by analysts at Wells Fargo & Co from $113.00 to $122.00. They now have a “market perform” rating on the stock.
  • 5/1/2019 – Ingersoll-Rand was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating. They now have a $123.46 price target on the stock.
  • 4/29/2019 – Ingersoll-Rand was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/15/2019 – Ingersoll-Rand was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the past year, Ingersoll’s shares have outperformed the industry. The company believes stellar sales generated from Commercial HVAC market will bolster its revenues in the quarters ahead. On the other hand, robust sales volume, increased productivity, pricing actions and new investments made toward footprint-optimization initiatives are expected to boost its profitability. For 2019, Ingersoll expects its adjusted earnings per share in the range of $6.15-$6.35. However, the stock looks overvalued compared to its industry over the past year. Material cost inflation, rising pension-related expenses and ongoing restructuring expenses might continue to weigh over Ingersoll's near-term profitability. Moreover, increases in debt levels can inflate the company’s financial obligations.”
  • 4/10/2019 – Ingersoll-Rand had its price target raised by analysts at KeyCorp from $112.00 to $130.00. They now have an “overweight” rating on the stock.
  • 4/4/2019 – Ingersoll-Rand was upgraded by analysts at Bank of America Corp from a “neutral” rating to a “buy” rating. They now have a $130.00 price target on the stock, up previously from $105.00.
  • 4/3/2019 – Ingersoll-Rand had its price target raised by analysts at Barclays PLC from $111.00 to $115.00. They now have an “overweight” rating on the stock.
  • 4/2/2019 – Ingersoll-Rand was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $123.00 price target on the stock. According to Zacks, “Over the past six months, Ingersoll's shares have outperformed the industry. The company believes that stellar sales generated from the Commercial HVAC market will bolster revenues in the quarters ahead. Further, robust sales volume, increased productivity, pricing actions and new investments made toward footprint-optimization initiatives are expected to boost profitability. Also, the Precision Flow Systems buyout (when completed) will strengthen the fluid management business. Margins and earnings accretion are predicted in the first year of the completion of this buyout. For 2019, the company expects adjusted earnings per share to be $6.15-$6.35. Revenues are predicted to grow 4-5% year over year, with organic sales increasing 5-6%.”
  • 3/18/2019 – Ingersoll-Rand was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating. They now have a $113.00 price target on the stock, up previously from $110.00. They noted that the move was a valuation call. They noted that the move was a valuation call.

IR traded down $1.08 during trading hours on Friday, reaching $120.82. The company’s stock had a trading volume of 741,109 shares, compared to its average volume of 1,503,932. Ingersoll-Rand PLC has a fifty-two week low of $85.15 and a fifty-two week high of $125.26. The stock has a market capitalization of $29.11 billion, a PE ratio of 21.54, a P/E/G ratio of 1.78 and a beta of 1.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.58.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Ingersoll-Rand PLC will post 6.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 6th. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.

In other Ingersoll-Rand news, insider Marcia J. Avedon sold 10,205 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $105.95, for a total transaction of $1,081,219.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David S. Regnery sold 7,957 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total value of $972,743.25. Following the transaction, the insider now owns 58,735 shares in the company, valued at $7,180,353.75. The disclosure for this sale can be found here. Insiders sold 218,760 shares of company stock worth $23,276,480 over the last quarter. 0.70% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Ingersoll-Rand by 5.0% during the fourth quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock worth $1,716,550,000 after purchasing an additional 901,225 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Ingersoll-Rand by 0.3% in the third quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock valued at $1,753,427,000 after acquiring an additional 43,240 shares in the last quarter. FMR LLC raised its stake in shares of Ingersoll-Rand by 16.0% in the first quarter. FMR LLC now owns 5,672,472 shares of the industrial products company’s stock valued at $612,343,000 after acquiring an additional 781,104 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ingersoll-Rand by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after acquiring an additional 1,085,581 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Ingersoll-Rand by 3.9% in the fourth quarter. Bank of America Corp DE now owns 3,980,294 shares of the industrial products company’s stock valued at $363,122,000 after acquiring an additional 149,485 shares in the last quarter. Institutional investors own 81.51% of the company’s stock.

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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