Zacks Investment Research upgraded shares of Ingersoll Rand (NYSE:IR) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $99.00 price objective on the industrial products company’s stock.
According to Zacks, “Ingersoll started 2018 on a positive note, reporting solid first-quarter 2018 results. The company is focusing on improving the efficiencies and capabilities of products and services within its core businesses. The geographic and industrial diversity coupled with a large installed product base provides ample growth opportunities within service, spare parts and replacement revenue streams. Furthermore, a robust operating platform and an efficient management team will likely drive net asset value and dividend growth in future. Ingersoll continues to focus on its strategic priorities, which include a disciplined capital allocation; strong and flexible balance sheet position; and cash flow enhancement to support dividend growth. The stock has outperformed the industry in the past three months. However, operating risks from high R&D costs for technology-driven products are expected to weigh on the company’s margins to some extent.”
Several other brokerages have also recently commented on IR. BMO Capital Markets boosted their price target on shares of Ingersoll Rand to $115.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Stifel Nicolaus boosted their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Barclays assumed coverage on shares of Ingersoll Rand in a research report on Thursday, February 15th. They set an overweight rating and a $111.00 price target on the stock. Royal Bank of Canada reissued a hold rating and set a $99.00 price target on shares of Ingersoll Rand in a research report on Tuesday, February 27th. Finally, Argus boosted their price target on shares of Ingersoll Rand to $105.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Ingersoll Rand presently has a consensus rating of Hold and an average price target of $103.77.
Shares of NYSE:IR opened at $88.88 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 0.52. Ingersoll Rand has a one year low of $88.59 and a one year high of $89.41. The stock has a market cap of $22.11 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.35.
Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Ingersoll Rand had a net margin of 8.96% and a return on equity of 17.03%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. equities analysts forecast that Ingersoll Rand will post 5.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.03%. Ingersoll Rand’s payout ratio is 39.91%.
In other news, insider Paul A. Camuti sold 1,678 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $85.15, for a total value of $142,881.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael W. Lamach sold 58,284 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $90.30, for a total transaction of $5,263,045.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,522 shares of company stock worth $6,088,519. 0.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. United Capital Financial Advisers LLC grew its stake in Ingersoll Rand by 7.1% in the 1st quarter. United Capital Financial Advisers LLC now owns 8,600 shares of the industrial products company’s stock valued at $735,000 after buying an additional 571 shares during the last quarter. Penserra Capital Management LLC grew its stake in Ingersoll Rand by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 3,640 shares of the industrial products company’s stock valued at $324,000 after buying an additional 572 shares during the last quarter. Sentry Investment Management LLC grew its stake in Ingersoll Rand by 3.3% in the 1st quarter. Sentry Investment Management LLC now owns 18,486 shares of the industrial products company’s stock valued at $1,581,000 after buying an additional 595 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in Ingersoll Rand by 2.5% in the 4th quarter. New Mexico Educational Retirement Board now owns 24,398 shares of the industrial products company’s stock valued at $2,176,000 after buying an additional 600 shares during the last quarter. Finally, River Road Asset Management LLC grew its stake in Ingersoll Rand by 20.5% in the 1st quarter. River Road Asset Management LLC now owns 3,644 shares of the industrial products company’s stock valued at $312,000 after buying an additional 621 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
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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