Ingersoll-Rand PLC (Ireland) (NYSE:IR) issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.03, Morningstar.com reports. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company earned $1.38 earnings per share. Ingersoll-Rand PLC (Ireland)’s revenue for the quarter was up 4.4% on a year-over-year basis. Ingersoll-Rand PLC (Ireland) updated its FY17 guidance to $4.50 EPS.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded up 1.67% during mid-day trading on Friday, reaching $88.18. The company’s stock had a trading volume of 1,542,594 shares. The firm has a market cap of $22.37 billion, a price-to-earnings ratio of 21.89 and a beta of 1.31. Ingersoll-Rand PLC has a 52-week low of $62.40 and a 52-week high of $94.39. The firm has a 50 day moving average price of $91.09 and a 200 day moving average price of $85.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.04%. This is a boost from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is 39.80%.
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In other Ingersoll-Rand PLC (Ireland) news, insider Paul A. Camuti sold 6,960 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $89.90, for a total value of $625,704.00. Following the completion of the sale, the insider now directly owns 64,979 shares in the company, valued at $5,841,612.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Zafari sold 1,483 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $89.59, for a total transaction of $132,861.97. Following the completion of the sale, the executive vice president now owns 66,944 shares of the company’s stock, valued at $5,997,512.96. The disclosure for this sale can be found here. Insiders have sold 11,943 shares of company stock worth $1,072,306 over the last ninety days. Insiders own 0.65% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. raised its position in shares of Ingersoll-Rand PLC (Ireland) by 18.9% in the second quarter. Tocqueville Asset Management L.P. now owns 5,650 shares of the industrial products company’s stock worth $516,000 after buying an additional 900 shares during the last quarter. Peddock Capital Advisors LLC raised its position in shares of Ingersoll-Rand PLC (Ireland) by 41.4% in the second quarter. Peddock Capital Advisors LLC now owns 4,950 shares of the industrial products company’s stock worth $452,000 after buying an additional 1,450 shares during the last quarter. Knowledge Leaders Capital LLC raised its position in shares of Ingersoll-Rand PLC (Ireland) by 0.7% in the second quarter. Knowledge Leaders Capital LLC now owns 68,440 shares of the industrial products company’s stock worth $6,255,000 after buying an additional 486 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Ingersoll-Rand PLC (Ireland) by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 389,032 shares of the industrial products company’s stock worth $35,554,000 after buying an additional 3,976 shares during the last quarter. Finally, Annex Advisory Services LLC raised its position in shares of Ingersoll-Rand PLC (Ireland) by 12.3% in the second quarter. Annex Advisory Services LLC now owns 10,728 shares of the industrial products company’s stock worth $980,000 after buying an additional 1,171 shares during the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.
A number of equities research analysts recently weighed in on IR shares. Zacks Investment Research upgraded shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Friday, June 16th. Credit Suisse Group reiterated a “buy” rating and issued a $84.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, April 11th. BidaskClub cut Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $87.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $97.43.
Ingersoll-Rand PLC (Ireland) 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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