Trading Report: The Ingersoll-Rand PLC (IR) Earns Hold Rating from KeyCorp

The Ingersoll-Rand PLC (IR) Earns Hold Rating from KeyCorp

KeyCorp restated their hold rating on shares of Ingersoll-Rand PLC (NYSE:IR) in a report published on Monday.

IR has been the subject of a number of other reports. Jefferies Group restated a buy rating on shares of Ingersoll-Rand PLC in a report on Thursday, July 28th. Zacks Investment Research lowered shares of Ingersoll-Rand PLC from a hold rating to a sell rating in a report on Tuesday, September 27th. BMO Capital Markets assumed coverage on shares of Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They issued an outperform rating and a $80.00 target price for the company. Credit Suisse Group AG reaffirmed a buy rating and issued a $72.00 target price on shares of Ingersoll-Rand PLC in a research report on Sunday, July 10th. Finally, Stifel Nicolaus cut their target price on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a buy rating for the company in a research report on Thursday, July 28th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $68.00.

Ingersoll-Rand PLC (NYSE:IR) opened at 65.92 on Monday. The company has a 50-day moving average price of $66.41 and a 200-day moving average price of $65.48. The stock has a market cap of $17.01 billion, a PE ratio of 12.14 and a beta of 1.26. Ingersoll-Rand PLC has a 52 week low of $47.08 and a 52 week high of $68.97.

Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The company earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts anticipate that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.60 annualized dividend and a yield of 2.43%. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s payout ratio is presently 23.53%.

In other Ingersoll-Rand PLC news, insider Paul A. Camuti sold 2,436 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $67.91, for a total value of $165,428.76. Following the sale, the insider now owns 52,240 shares in the company, valued at approximately $3,547,618.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Keith A. Sultana sold 3,071 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $68.81, for a total transaction of $211,315.51. Following the completion of the sale, the senior vice president now owns 10,698 shares in the company, valued at approximately $736,129.38. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in IR. Capstone Asset Management Co. boosted its stake in shares of Ingersoll-Rand PLC by 2.9% in the third quarter. Capstone Asset Management Co. now owns 21,108 shares of the company’s stock valued at $1,434,000 after buying an additional 595 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new stake in shares of Ingersoll-Rand PLC during the third quarter valued at approximately $101,194,000. Eagle Asset Management Inc. boosted its stake in shares of Ingersoll-Rand PLC by 0.3% in the third quarter. Eagle Asset Management Inc. now owns 857,269 shares of the company’s stock valued at $58,242,000 after buying an additional 2,151 shares during the last quarter. Fenimore Asset Management Inc. boosted its stake in shares of Ingersoll-Rand PLC by 17.0% in the third quarter. Fenimore Asset Management Inc. now owns 142,574 shares of the company’s stock valued at $9,686,000 after buying an additional 20,766 shares during the last quarter. Finally, Creative Planning boosted 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 valued at $612,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Ingersoll-Rand PLC Company Profile

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