Ingersoll-Rand (NYSE:IR) was downgraded by equities researchers at OTR Global to a “positive” rating in a research note issued to investors on Friday, January 18th, The Fly reports.
A number of other brokerages have also weighed in on IR. ValuEngine upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a report on Friday, November 16th. JPMorgan Chase & Co. upgraded shares of Ingersoll-Rand from a “neutral” rating to an “overweight” rating in a report on Friday, September 21st. Stephens assumed coverage on shares of Ingersoll-Rand in a research report on Monday, November 19th. They set an “overweight” rating and a $118.00 target price on the stock. Credit Suisse Group assumed coverage on shares of Ingersoll-Rand in a research report on Friday, October 12th. They set an “outperform” rating and a $108.00 target price on the stock. Finally, Citigroup raised their target price on shares of Ingersoll-Rand from $117.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Ingersoll-Rand has a consensus rating of “Buy” and an average price target of $109.77.
Shares of Ingersoll-Rand stock traded up $0.59 during trading on Friday, hitting $102.51. The stock had a trading volume of 1,527,700 shares, compared to its average volume of 1,746,271. The firm has a market capitalization of $25.04 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.26. The company has a current ratio of 1.33, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. Ingersoll-Rand has a 12 month low of $79.63 and a 12 month high of $107.08.
Ingersoll-Rand (NYSE:IR) last released its earnings results on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the business earned $1.02 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Ingersoll-Rand will post 6.3 earnings per share for the current fiscal year.
In related news, CEO Michael W. Lamach sold 166,407 shares of Ingersoll-Rand stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $90.39, for a total value of $15,041,528.73. Following the completion of the sale, the chief executive officer now directly owns 417,275 shares in the company, valued at approximately $37,717,487.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcia J. Avedon sold 6,486 shares of Ingersoll-Rand stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $99.24, for a total transaction of $643,670.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,522 shares of company stock worth $16,448,162. Insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IR. Oregon Public Employees Retirement Fund lifted its stake in Ingersoll-Rand by 8,911.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 2,413,413 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ingersoll-Rand by 26.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after purchasing an additional 1,085,581 shares during the period. Nordea Investment Management AB acquired a new position in shares of Ingersoll-Rand in the 3rd quarter valued at $100,178,000. BlackRock Inc. lifted its stake in shares of Ingersoll-Rand by 5.0% in the 4th quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock valued at $1,716,550,000 after purchasing an additional 901,225 shares during the period. Finally, FMR LLC lifted its stake in shares of Ingersoll-Rand by 18.8% in the 3rd quarter. FMR LLC now owns 5,304,443 shares of the industrial products company’s stock valued at $542,645,000 after purchasing an additional 838,513 shares during the period. Institutional investors and hedge funds own 80.59% of the company’s stock.
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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