Ingersoll-Rand PLC (NYSE:IR) – Investment analysts at KeyCorp dropped their Q4 2019 earnings estimates for Ingersoll-Rand in a report released on Sunday, October 13th. KeyCorp analyst J. Hammond now expects that the industrial products company will post earnings per share of $1.47 for the quarter, down from their previous forecast of $1.50. KeyCorp also issued estimates for Ingersoll-Rand’s FY2020 earnings at $6.95 EPS.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Ingersoll-Rand had a net margin of 8.89% and a return on equity of 20.97%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. The company’s revenue was up 3.9% on a year-over-year basis.
Other research analysts also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Ingersoll-Rand from $137.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on shares of Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Cowen restated a “buy” rating and set a $131.00 target price on shares of Ingersoll-Rand in a research report on Tuesday, July 30th. Jefferies Financial Group downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research report on Tuesday, July 2nd. Finally, Credit Suisse Group upped their target price on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $129.56.
Ingersoll-Rand stock opened at $116.05 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. Ingersoll-Rand has a 1 year low of $85.15 and a 1 year high of $128.31. The company has a market cap of $27.87 billion, a PE ratio of 20.69, a PEG ratio of 1.68 and a beta of 1.24. The company’s 50-day moving average is $120.28 and its two-hundred day moving average is $120.25.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.53 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.83%. Ingersoll-Rand’s dividend payout ratio is 37.79%.
In related news, Director Jared L. Cohon sold 938 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $119.07, for a total value of $111,687.66. Following the sale, the director now directly owns 23,697 shares in the company, valued at approximately $2,821,601.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its stake in Ingersoll-Rand by 290.8% during the 1st quarter. First Trust Advisors LP now owns 547,727 shares of the industrial products company’s stock worth $59,127,000 after purchasing an additional 407,571 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Ingersoll-Rand by 18.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108,362 shares of the industrial products company’s stock worth $11,698,000 after purchasing an additional 16,748 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in Ingersoll-Rand during the 1st quarter worth approximately $116,000. Meridian Wealth Management LLC bought a new stake in Ingersoll-Rand during the 1st quarter worth approximately $119,000. Finally, Marshall Wace LLP bought a new stake in Ingersoll-Rand during the 1st quarter worth approximately $423,000. Institutional investors and hedge funds own 78.25% of the company’s stock.
Ingersoll-Rand Company Profile
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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