Morgan Stanley set a $120.00 price target on Ingersoll-Rand (NYSE:IR) in a research note released on Tuesday, February 26th. The firm currently has a buy rating on the industrial products company’s stock.
IR has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Ingersoll-Rand from a buy rating to a hold rating in a report on Wednesday, December 19th. Stephens assumed coverage on Ingersoll-Rand in a research report on Monday, November 19th. They issued an overweight rating and a $118.00 price target on the stock. ValuEngine upgraded Ingersoll-Rand from a hold rating to a buy rating in a research report on Friday, November 16th. Credit Suisse Group reiterated an outperform rating and issued a $115.00 price target (up from $108.00) on shares of Ingersoll-Rand in a research report on Thursday, January 31st. Finally, Cowen reiterated a buy rating and issued a $115.00 price target on shares of Ingersoll-Rand in a research report on Wednesday, January 23rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Ingersoll-Rand has a consensus rating of Buy and a consensus price target of $111.21.
NYSE IR traded down $2.10 on Tuesday, hitting $104.23. 1,004,190 shares of the stock were exchanged, compared to its average volume of 1,362,516. The stock has a market capitalization of $25.24 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.60 and a beta of 1.28. The company has a quick ratio of 0.94, a current ratio of 1.33 and a debt-to-equity ratio of 0.53. Ingersoll-Rand has a fifty-two week low of $79.63 and a fifty-two week high of $107.75.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.03. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.86 billion. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. On average, equities research analysts expect that Ingersoll-Rand will post 6.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a $0.53 dividend. The ex-dividend date is Thursday, March 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.03%. Ingersoll-Rand’s payout ratio is 37.79%.
In other Ingersoll-Rand news, CEO Michael W. Lamach sold 166,407 shares of Ingersoll-Rand stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $90.39, for a total value of $15,041,528.73. Following the completion of the transaction, the chief executive officer now directly owns 417,275 shares of the company’s stock, valued at approximately $37,717,487.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan K. Carter sold 70,037 shares of Ingersoll-Rand stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.67, for a total value of $7,400,809.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 403,959 shares of company stock valued at $40,020,670. Insiders own 0.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Sowell Financial Services LLC acquired a new position in Ingersoll-Rand during the 4th quarter worth approximately $290,000. Norges Bank bought a new stake in Ingersoll-Rand during the 4th quarter worth approximately $360,951,000. Teacher Retirement System of Texas grew its holdings in shares of Ingersoll-Rand by 0.7% in the fourth quarter. Teacher Retirement System of Texas now owns 337,518 shares of the industrial products company’s stock valued at $30,792,000 after acquiring an additional 2,438 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Ingersoll-Rand in the fourth quarter valued at approximately $443,000. Finally, Valley National Advisers Inc. grew its holdings in shares of Ingersoll-Rand by 9.7% in the fourth quarter. Valley National Advisers Inc. now owns 8,201 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 726 shares in the last quarter. Institutional investors own 79.20% 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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