Brokerages expect Ingersoll-Rand PLC (NYSE:IR) to report $3.15 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Ingersoll-Rand’s earnings, with estimates ranging from $3.10 billion to $3.21 billion. Ingersoll-Rand posted sales of $3.00 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Ingersoll-Rand will report full year sales of $3.15 billion for the current year, with estimates ranging from $14.91 billion to $15.06 billion. For the next fiscal year, analysts forecast that the business will report sales of $15.59 billion per share, with estimates ranging from $15.53 billion to $15.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the business earned $0.84 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year.
A number of analysts have issued reports on IR shares. Stifel Nicolaus cut their target price on Ingersoll-Rand from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada cut their target price on Ingersoll-Rand from $93.00 to $91.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Morgan Stanley downgraded Ingersoll-Rand from an “overweight” rating to an “equal weight” rating and set a $98.00 target price for the company. in a research note on Friday, October 27th. Robert W. Baird reissued a “hold” rating on shares of Ingersoll-Rand in a research report on Friday, November 17th. Finally, KeyCorp reissued a “hold” rating on shares of Ingersoll-Rand in a research report on Sunday, November 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $103.08.
Shares of Ingersoll-Rand (NYSE IR) traded down $0.16 on Tuesday, hitting $90.15. The company’s stock had a trading volume of 1,550,000 shares, compared to its average volume of 2,000,000. Ingersoll-Rand has a twelve month low of $77.26 and a twelve month high of $97.67. The firm has a market cap of $22,530.00, a P/E ratio of 17.44, a PEG ratio of 1.93 and a beta of 1.33. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 0.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 8th. Ingersoll-Rand’s payout ratio is 34.82%.
In other Ingersoll-Rand news, Director Jared L. Cohon sold 2,350 shares of Ingersoll-Rand stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.40, for a total value of $217,140.00. Following the completion of the transaction, the director now directly owns 25,766 shares of the company’s stock, valued at approximately $2,380,778.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael W. Lamach sold 58,284 shares of Ingersoll-Rand stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $90.30, for a total value of $5,263,045.20. The disclosure for this sale can be found here. Insiders have sold a total of 278,702 shares of company stock valued at $24,746,424 over the last three months. Corporate insiders own 0.63% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Calton & Associates Inc. acquired a new position in Ingersoll-Rand in the 4th quarter valued at about $112,000. Advisory Services Network LLC grew its position in Ingersoll-Rand by 19.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,304 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 213 shares in the last quarter. Resources Investment Advisors Inc. grew its position in Ingersoll-Rand by 218.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 929 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Ingersoll-Rand in the 3rd quarter valued at about $152,000. Finally, Bessemer Group Inc. grew its position in Ingersoll-Rand by 185.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,278 shares in the last quarter. 78.90% of the stock is owned by institutional investors.
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Ingersoll-Rand 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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