Brokerages forecast that Ingersoll-Rand PLC (NYSE:IR) will post sales of $4.02 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Ingersoll-Rand’s earnings, with the lowest sales estimate coming in at $3.98 billion and the highest estimate coming in at $4.07 billion. Ingersoll-Rand posted sales of $3.67 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, October 24th.
According to Zacks, analysts expect that Ingersoll-Rand will report full year sales of $15.59 billion for the current financial year, with estimates ranging from $15.52 billion to $15.64 billion. For the next year, analysts expect that the business will post sales of $16.31 billion, with estimates ranging from $16.21 billion to $16.37 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.13. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Ingersoll-Rand had a return on equity of 18.11% and a net margin of 9.28%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 earnings per share.
Several analysts recently commented on the company. JPMorgan Chase & Co. upgraded Ingersoll-Rand from a “neutral” rating to an “overweight” rating in a report on Friday, September 21st. Cowen reiterated a “buy” rating and issued a $115.00 target price on shares of Ingersoll-Rand in a report on Monday, September 10th. UBS Group upped their target price on Ingersoll-Rand from $108.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Morgan Stanley assumed coverage on Ingersoll-Rand in a report on Monday, August 20th. They issued an “overweight” rating and a $111.00 target price on the stock. Finally, Barclays upped their target price on Ingersoll-Rand from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $109.55.
In other Ingersoll-Rand news, SVP Paul A. Camuti sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $95.00, for a total value of $171,000.00. Following the transaction, the senior vice president now directly owns 59,290 shares of the company’s stock, valued at $5,632,550. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marcia J. Avedon sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $96.00, for a total value of $960,000.00. The disclosure for this sale can be found here. Insiders sold 36,969 shares of company stock worth $3,646,048 over the last quarter. 0.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new position in Ingersoll-Rand in the second quarter valued at approximately $106,000. Fort L.P. acquired a new position in shares of Ingersoll-Rand during the second quarter worth approximately $121,000. Smithfield Trust Co. raised its position in shares of Ingersoll-Rand by 374.5% during the second quarter. Smithfield Trust Co. now owns 1,376 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 1,086 shares during the period. CWM LLC raised its position in shares of Ingersoll-Rand by 653.3% during the second quarter. CWM LLC now owns 1,499 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 1,300 shares during the period. Finally, Hartford Financial Management Inc. acquired a new position in shares of Ingersoll-Rand during the second quarter worth approximately $149,000. 80.16% of the stock is currently owned by hedge funds and other institutional investors.
IR stock traded up $0.29 during trading on Monday, hitting $103.41. The company had a trading volume of 1,138,900 shares, compared to its average volume of 1,638,047. Ingersoll-Rand has a one year low of $79.63 and a one year high of $105.76. The stock has a market capitalization of $25.10 billion, a PE ratio of 22.76, a PEG ratio of 1.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 7th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, December 6th. Ingersoll-Rand’s payout ratio is presently 47.01%.
Ingersoll-Rand Company Profile
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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