Ingersoll-Rand (IR) Receives New Coverage from Analysts at Morgan Stanley

Share on StockTwits

Morgan Stanley initiated coverage on shares of Ingersoll-Rand (NYSE:IR) in a report released on Monday, The Fly reports. The firm issued an overweight rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Ingersoll-Rand from $115.00 to $117.00 and gave the stock an overweight rating in a report on Thursday, August 9th. Argus raised their price target on shares of Ingersoll-Rand from $100.00 to $114.00 and gave the stock a buy rating in a report on Tuesday, July 31st. Bank of America raised their price target on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the stock a neutral rating in a report on Monday, July 30th. Zacks Investment Research upgraded shares of Ingersoll-Rand from a hold rating to a buy rating and set a $101.00 price target for the company in a report on Sunday, July 15th. Finally, Wolfe Research began coverage on shares of Ingersoll-Rand in a report on Wednesday, June 27th. They set an outperform rating for the company. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Ingersoll-Rand presently has an average rating of Buy and a consensus target price of $106.23.

IR stock opened at $99.83 on Monday. The stock has a market capitalization of $24.48 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.56 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93. Ingersoll-Rand has a 12 month low of $79.63 and a 12 month high of $100.47.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.13. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. Ingersoll-Rand’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 EPS. sell-side analysts expect that Ingersoll-Rand will post 5.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, September 6th. This is an increase from Ingersoll-Rand’s previous quarterly dividend of $0.45. Ingersoll-Rand’s dividend payout ratio (DPR) is 39.91%.

In related news, Director Jared L. Cohon sold 2,663 shares of Ingersoll-Rand stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $97.30, for a total value of $259,109.90. Following the completion of the sale, the director now owns 24,153 shares in the company, valued at approximately $2,350,086.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David S. Regnery sold 12,098 shares of Ingersoll-Rand stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $97.00, for a total transaction of $1,173,506.00. Following the completion of the sale, the executive vice president now owns 55,810 shares of the company’s stock, valued at approximately $5,413,570. The disclosure for this sale can be found here. Insiders sold a total of 37,021 shares of company stock valued at $3,525,936 in the last quarter. 0.70% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. City Holding Co. boosted its position in Ingersoll-Rand by 8.1% in the 2nd quarter. City Holding Co. now owns 21,894 shares of the industrial products company’s stock valued at $1,964,000 after buying an additional 1,640 shares during the period. Nomura Holdings Inc. boosted its position in Ingersoll-Rand by 120.3% in the 2nd quarter. Nomura Holdings Inc. now owns 16,729 shares of the industrial products company’s stock valued at $1,501,000 after buying an additional 98,944 shares during the period. Carnegie Capital Asset Management LLC boosted its position in Ingersoll-Rand by 33.3% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 5,009 shares of the industrial products company’s stock valued at $486,000 after buying an additional 1,250 shares during the period. Advisors Asset Management Inc. boosted its position in Ingersoll-Rand by 102.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 25,194 shares of the industrial products company’s stock valued at $1,115,000 after buying an additional 12,758 shares during the period. Finally, California Public Employees Retirement System boosted its position in Ingersoll-Rand by 2.3% in the 2nd quarter. California Public Employees Retirement System now owns 666,213 shares of the industrial products company’s stock valued at $59,779,000 after buying an additional 15,079 shares during the period. Hedge funds and other institutional investors own 81.78% of the company’s stock.

About Ingersoll-Rand

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

See Also: Average Daily Trade Volume – What You Need to Know

The Fly

Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply