Zacks Investment Research cut shares of Ingersoll-Rand PLC (NYSE:IR) from a buy rating to a hold rating in a research report released on Monday.
According to Zacks, “Ingersoll reported strong third-quarter 2016 results with healthy year-over-year increase in both earnings and revenues that exceeded the respective Zacks Consensus Estimate. Ingersoll is focusing on improving the efficiencies and capabilities of products and services within its core businesses after the divesture of the commercial and residential security businesses. The geographic and industry diversity, coupled with a large installed product base provides ample growth opportunities within service, spare parts and replacement revenue streams. However, operating risks from high R&D costs for technology-driven products are expected to weigh on margins in the quarters ahead. Moreover, intense competitive pressure and adverse foreign currency impact are likely to hinder its profitability to some extent. In addition, restructuring actions are likely to lead to near-term earnings dilution for the company.”
IR has been the topic of a number of other research reports. KeyCorp reiterated a hold rating on shares of Ingersoll-Rand PLC in a report on Monday, October 10th. Royal Bank Of Canada upped their price target on Ingersoll-Rand PLC from $74.00 to $76.00 and gave the stock a sector perform rating in a research note on Thursday, October 27th. Jefferies Group restated a buy rating on shares of Ingersoll-Rand PLC in a research note on Tuesday, October 18th. Buckingham Research downgraded Ingersoll-Rand PLC from a buy rating to a neutral rating in a research note on Wednesday, November 16th. Finally, Stifel Nicolaus cut their price target on Ingersoll-Rand PLC from $77.00 to $75.00 and set a buy rating on the stock in a research note on Thursday, July 28th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Ingersoll-Rand PLC currently has a consensus rating of Buy and a consensus price target of $69.35.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 75.58 on Monday. The stock has a market cap of $19.52 billion, a P/E ratio of 13.11 and a beta of 1.32. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $76.45. The company’s 50-day moving average is $69.40 and its 200-day moving average is $66.91.
Ingersoll-Rand PLC (NYSE:IR) last posted its earnings results on Wednesday, October 26th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. Ingersoll-Rand PLC had a return on equity of 17.70% and a net margin of 11.21%. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Ingersoll-Rand PLC will post $4.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a $0.40 dividend. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, December 7th. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is currently 22.22%.
In other Ingersoll-Rand PLC news, insider Gary S. Michel sold 10,708 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $74.00, for a total value of $792,392.00. Following the completion of the sale, the insider now owns 37,005 shares in the company, valued at approximately $2,738,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Didier P. Teirlinck sold 28,117 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $67.51, for a total value of $1,898,178.67. Following the completion of the sale, the executive vice president now owns 135,532 shares of the company’s stock, valued at approximately $9,149,765.32. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Creative Planning raised its stake in shares of Ingersoll-Rand PLC by 0.7% in the third quarter. Creative Planning now owns 9,005 shares of the company’s stock worth $612,000 after buying an additional 61 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of Ingersoll-Rand PLC by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 5,827 shares of the company’s stock worth $371,000 after buying an additional 77 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Ingersoll-Rand PLC by 1.3% in the second quarter. First Allied Advisory Services Inc. now owns 6,252 shares of the company’s stock worth $399,000 after buying an additional 78 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Ingersoll-Rand PLC by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,893 shares of the company’s stock worth $1,266,000 after buying an additional 82 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Ingersoll-Rand PLC by 1.3% in the third quarter. Profund Advisors LLC now owns 7,691 shares of the company’s stock worth $523,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 80.18% of the company’s stock.
Ingersoll-Rand PLC Company Profile
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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