Ingersoll-Rand (NYSE:IR) had its price target lifted by Morgan Stanley from $137.00 to $139.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the industrial products company’s stock.
Other analysts have also recently issued reports about the company. Cowen restated a buy rating and set a $131.00 price objective on shares of Ingersoll-Rand in a research report on Tuesday. BMO Capital Markets boosted their price objective on Ingersoll-Rand from $112.00 to $140.00 and gave the company an outperform rating in a research report on Monday, May 6th. ValuEngine upgraded Ingersoll-Rand from a hold rating to a buy rating in a research report on Monday, April 29th. Bank of America upgraded Ingersoll-Rand from a neutral rating to a buy rating and boosted their price objective for the company from $105.00 to $130.00 in a research report on Thursday, April 4th. Finally, KeyCorp boosted their price objective on Ingersoll-Rand from $130.00 to $135.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $128.70.
NYSE IR traded down $0.85 during trading on Wednesday, hitting $120.88. The company’s stock had a trading volume of 1,426,988 shares, compared to its average volume of 1,314,814. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $124.82. The firm has a market cap of $29.82 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 1.81 and a beta of 1.24. Ingersoll-Rand has a 52 week low of $85.15 and a 52 week high of $128.31.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. Ingersoll-Rand’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.85 earnings per share. As a group, analysts predict that Ingersoll-Rand will post 6.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.
In other Ingersoll-Rand news, insider Evan M. Turtz sold 3,770 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total value of $482,560.00. Following the sale, the insider now directly owns 15,549 shares in the company, valued at $1,990,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael W. Lamach sold 146,733 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the sale, the chief executive officer now owns 356,238 shares in the company, valued at $44,529,750. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. WP Advisors LLC acquired a new position in Ingersoll-Rand in the first quarter worth $34,000. Arrow Financial Corp boosted its stake in Ingersoll-Rand by 232.6% in the second quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in Ingersoll-Rand by 92.2% in the second quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 141 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in Ingersoll-Rand in the first quarter worth $38,000. Finally, Berman Capital Advisors LLC boosted its stake in Ingersoll-Rand by 93.9% in the second quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 78.43% 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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