Brokerages expect Ingersoll-Rand PLC (NYSE:IR) to post $1.92 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Ingersoll-Rand’s earnings, with the lowest EPS estimate coming in at $1.90 and the highest estimate coming in at $1.94. Ingersoll-Rand posted earnings per share of $1.75 during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The business is expected to issue its next quarterly earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Ingersoll-Rand will report full year earnings of $6.40 per share for the current financial year, with EPS estimates ranging from $6.34 to $6.41. For the next fiscal year, analysts expect that the business will post earnings of $7.08 per share, with EPS estimates ranging from $6.90 to $7.39. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the company earned $1.85 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year.
Several research analysts recently commented on the company. Jefferies Financial Group downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research note on Tuesday, July 2nd. Credit Suisse Group raised their target price on Ingersoll-Rand from $138.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Cowen reaffirmed a “buy” rating and issued a $131.00 target price on shares of Ingersoll-Rand in a research note on Tuesday, July 30th. KeyCorp raised their target price on Ingersoll-Rand from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $128.70.
In other news, CEO Michael W. Lamach sold 146,733 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $125.00, for a total transaction of $18,341,625.00. Following the completion of the transaction, the chief executive officer now directly owns 356,238 shares in the company, valued at approximately $44,529,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jared L. Cohon sold 938 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total value of $111,687.66. Following the transaction, the director now owns 23,697 shares of the company’s stock, valued at $2,821,601.79. The disclosure for this sale can be found here. Insiders sold a total of 151,441 shares of company stock valued at $18,935,873 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IR. QCI Asset Management Inc. NY purchased a new position in Ingersoll-Rand during the 2nd quarter valued at about $26,000. WP Advisors LLC purchased a new position in Ingersoll-Rand during the 1st quarter valued at about $34,000. Arrow Financial Corp boosted its holdings in Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 200 shares during the period. AdvisorNet Financial Inc boosted its holdings in Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 141 shares during the period. Finally, Financial Gravity Wealth Inc. purchased a new position in Ingersoll-Rand during the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 77.46% of the company’s stock.
NYSE IR traded up $0.69 during mid-day trading on Monday, hitting $118.57. The stock had a trading volume of 847,161 shares, compared to its average volume of 1,439,393. The firm’s 50 day moving average is $122.78 and its 200 day moving average is $115.96. Ingersoll-Rand has a twelve month low of $85.15 and a twelve month high of $128.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.85. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.63 and a beta of 1.24.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.
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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