Ingersoll-Rand PLC (NYSE:IR) has been assigned an average rating of “Buy” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $108.83.
A number of research firms have weighed in on IR. UBS Group upped their target price on Ingersoll-Rand from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Morgan Stanley began coverage on Ingersoll-Rand in a report on Monday, August 20th. They set an “overweight” rating and a $111.00 price objective for the company. Bank of America increased their price objective on Ingersoll-Rand from $96.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Argus increased their price objective on Ingersoll-Rand from $100.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Barclays increased their price objective on Ingersoll-Rand from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, August 9th.
Ingersoll-Rand stock traded up $0.99 during mid-day trading on Friday, reaching $102.81. 57,746 shares of the company were exchanged, compared to its average volume of 1,212,567. The company has a quick ratio of 0.93, a current ratio of 1.30 and a debt-to-equity ratio of 0.55. The firm has a market cap of $24.85 billion, a P/E ratio of 22.58, a P/E/G ratio of 1.58 and a beta of 1.34. Ingersoll-Rand has a 12-month low of $79.63 and a 12-month high of $102.24.
Ingersoll-Rand (NYSE:IR) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.13. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.21 billion. Ingersoll-Rand had a return on equity of 18.11% and a net margin of 9.28%. Ingersoll-Rand’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. equities analysts expect that Ingersoll-Rand will post 5.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 6th. This is a positive change from Ingersoll-Rand’s previous quarterly dividend of $0.45. Ingersoll-Rand’s dividend payout ratio is currently 39.91%.
In related news, SVP Marcia J. Avedon sold 10,460 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $92.00, for a total value of $962,320.00. Following the transaction, the senior vice president now directly owns 113,288 shares of the company’s stock, valued at approximately $10,422,496. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Paul A. Camuti sold 1,800 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $95.00, for a total value of $171,000.00. Following the completion of the transaction, the senior vice president now directly owns 59,290 shares in the company, valued at $5,632,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,021 shares of company stock valued at $3,525,936. Company insiders own 0.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IR. Ceredex Value Advisors LLC acquired a new position in shares of Ingersoll-Rand in the 1st quarter valued at $89,309,000. Massachusetts Financial Services Co. MA increased its position in shares of Ingersoll-Rand by 16.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,869,560 shares of the industrial products company’s stock valued at $616,406,000 after acquiring an additional 954,768 shares during the period. Millennium Management LLC increased its position in shares of Ingersoll-Rand by 129.9% in the 2nd quarter. Millennium Management LLC now owns 1,551,254 shares of the industrial products company’s stock valued at $139,194,000 after acquiring an additional 876,468 shares during the period. Voya Investment Management LLC grew its position in Ingersoll-Rand by 26.6% during the 2nd quarter. Voya Investment Management LLC now owns 3,569,583 shares of the industrial products company’s stock worth $320,299,000 after purchasing an additional 750,879 shares during the period. Finally, BlackRock Inc. grew its position in Ingersoll-Rand by 3.8% during the 1st quarter. BlackRock Inc. now owns 17,969,852 shares of the industrial products company’s stock worth $1,536,604,000 after purchasing an additional 664,322 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
Ingersoll-Rand Company Profile
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.
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