Wall Street analysts expect Ingersoll-Rand PLC (NYSE:IR) to announce earnings per share (EPS) of $1.72 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Ingersoll-Rand’s earnings. The highest EPS estimate is $1.77 and the lowest is $1.69. Ingersoll-Rand reported earnings per share of $1.44 during the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The business is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, October 24th.
On average, analysts expect that Ingersoll-Rand will report full-year earnings of $5.54 per share for the current fiscal year, with EPS estimates ranging from $5.51 to $5.60. For the next fiscal year, analysts anticipate that the company will post earnings of $6.22 per share, with EPS estimates ranging from $6.08 to $6.50. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last announced 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 firm 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%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share.
A number of brokerages recently commented on IR. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Wolfe Research began coverage on shares of Ingersoll-Rand in a research report on Wednesday, June 27th. They issued an “outperform” rating for the company. Barclays raised their price objective on shares of Ingersoll-Rand from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Bank of America raised their price objective on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Finally, Credit Suisse Group began coverage on shares of Ingersoll-Rand in a research report on Friday, October 12th. They issued an “outperform” rating and a $108.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Ingersoll-Rand has an average rating of “Buy” and an average target price of $109.42.
In other Ingersoll-Rand news, SVP Marcia J. Avedon sold 10,408 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $104.00, for a total value of $1,082,432.00. Following the completion of the transaction, the senior vice president now directly owns 125,098 shares of the company’s stock, valued at $13,010,192. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Paul A. Camuti sold 1,800 shares of the stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $95.00, for a total transaction of $171,000.00. Following the completion of the transaction, the senior vice president now directly owns 59,290 shares of the company’s stock, valued at $5,632,550. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,969 shares of company stock valued at $3,646,048. 0.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. First Citizens Bank & Trust Co. purchased a new position in shares of Ingersoll-Rand during the 3rd quarter worth approximately $1,998,000. Seven Eight Capital LP increased its stake in shares of Ingersoll-Rand by 557.5% during the 3rd quarter. Seven Eight Capital LP now owns 125,484 shares of the industrial products company’s stock worth $12,837,000 after purchasing an additional 106,400 shares in the last quarter. Fenimore Asset Management Inc. increased its stake in shares of Ingersoll-Rand by 8.7% during the 3rd quarter. Fenimore Asset Management Inc. now owns 332,136 shares of the industrial products company’s stock worth $33,977,000 after purchasing an additional 26,476 shares in the last quarter. Oakbrook Investments LLC increased its stake in shares of Ingersoll-Rand by 37.7% during the 3rd quarter. Oakbrook Investments LLC now owns 29,015 shares of the industrial products company’s stock worth $2,968,000 after purchasing an additional 7,950 shares in the last quarter. Finally, Aperio Group LLC increased its stake in shares of Ingersoll-Rand by 2.9% during the 3rd quarter. Aperio Group LLC now owns 187,222 shares of the industrial products company’s stock worth $19,153,000 after purchasing an additional 5,312 shares in the last quarter. 79.94% of the stock is owned by institutional investors.
Shares of NYSE:IR opened at $96.24 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93. The stock has a market capitalization of $23.92 billion, a P/E ratio of 19.47, a PEG ratio of 1.52 and a beta of 1.31. Ingersoll-Rand has a 52 week low of $79.63 and a 52 week high of $105.76.
Ingersoll-Rand declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 3rd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $2.12 dividend on an annualized basis and a yield of 2.20%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 47.01%.
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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