Published On: Mon, Sep 19th, 2016

Stifel Nicolaus Lowers Ingersoll-Rand PLC (IR) Price Target to $75.00

Ingersoll-Rand PLC (NYSE:IR) had its price target cut by stock analysts at Stifel Nicolaus from $77.00 to $75.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 18.46% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the stock. Goldman Sachs Group Inc. lowered shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Sunday, April 3rd. Credit Suisse Group AG restated a “buy” rating and issued a $72.00 target price on shares of Ingersoll-Rand PLC in a report on Sunday, July 10th. Morgan Stanley upped their target price on shares of Ingersoll-Rand PLC from $66.00 to $69.00 in a report on Thursday, April 7th. BMO Capital Markets started coverage on shares of Ingersoll-Rand PLC in a report on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, Citigroup Inc. upped their target price on shares of Ingersoll-Rand PLC from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, April 19th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $67.94.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 0.81% during midday trading on Thursday, hitting $63.31. The stock had a trading volume of 2,462,210 shares. The stock’s 50-day moving average price is $67.24 and its 200 day moving average price is $64.50. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 11.66 and a beta of 1.35. Ingersoll-Rand PLC has a 52 week low of $47.08 and a 52 week high of $68.97.

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Ingersoll-Rand PLC (NYSE:IR) last posted its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, September 7th. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 23.53%.
In other Ingersoll-Rand PLC news, insider Paul A. Camuti sold 2,436 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $67.91, for a total value of $165,428.76. Following the completion of the transaction, the insider now directly owns 52,240 shares of the company’s stock, valued at approximately $3,547,618.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Keith A. Sultana sold 3,071 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $68.81, for a total transaction of $211,315.51. Following the completion of the transaction, the senior vice president now directly owns 10,698 shares of the company’s stock, valued at $736,129.38. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Advisors LLC increased its position in shares of Ingersoll-Rand PLC by 148.7% in the fourth quarter. BlackRock Advisors LLC now owns 1,051,370 shares of the company’s stock valued at $58,131,000 after buying an additional 628,675 shares during the last quarter. KBC Group NV increased its position in shares of Ingersoll-Rand PLC by 11.4% in the fourth quarter. KBC Group NV now owns 185,166 shares of the company’s stock valued at $10,238,000 after buying an additional 18,994 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ingersoll-Rand PLC by 30.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,713,687 shares of the company’s stock valued at $94,753,000 after buying an additional 399,500 shares during the last quarter. I.G. Investment Management LTD. increased its position in shares of Ingersoll-Rand PLC by 15.6% in the fourth quarter. I.G. Investment Management LTD. now owns 158,700 shares of the company’s stock valued at $8,775,000 after buying an additional 21,360 shares during the last quarter. Finally, Trexquant Investment LP increased its position in shares of Ingersoll-Rand PLC by 19.3% in the fourth quarter. Trexquant Investment LP now owns 58,112 shares of the company’s stock valued at $3,213,000 after buying an additional 9,412 shares during the last quarter. 81.02% of the stock is owned by hedge funds and other institutional investors.
Ingersoll-Rand PLC 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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