Other analysts also recently issued research reports about the company. Barclays reiterated a “buy” rating and set a $134.00 price target on shares of Ingersoll-Rand in a research report on Friday, October 4th. Cowen reissued a “buy” rating and set a $131.00 price objective on shares of Ingersoll-Rand in a report on Tuesday, October 29th. BMO Capital Markets set a $145.00 price objective on shares of Ingersoll-Rand and gave the stock a “buy” rating in a research report on Monday, November 4th. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “hold” rating to a “sell” rating and set a $138.00 target price on the stock. in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $135.25.
Shares of IR traded up $0.44 during mid-day trading on Thursday, reaching $129.02. 1,017,357 shares of the stock traded hands, compared to its average volume of 1,375,677. The company has a market cap of $31.41 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. Ingersoll-Rand has a 1 year low of $85.15 and a 1 year high of $132.42. The firm has a fifty day moving average price of $126.85 and a 200 day moving average price of $123.04. The company has a current ratio of 1.28, a quick ratio of 0.88 and a debt-to-equity ratio of 0.68.
Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.08. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. During the same quarter last year, the company earned $1.75 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ingersoll-Rand will post 6.4 EPS for the current year.
In other Ingersoll-Rand news, SVP Marcia J. Avedon sold 7,450 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $129.00, for a total value of $961,050.00. Following the completion of the sale, the senior vice president now owns 99,075 shares of the company’s stock, valued at $12,780,675. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Keith A. Sultana sold 7,010 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $876,250.00. Following the completion of the sale, the senior vice president now directly owns 19,608 shares of the company’s stock, valued at approximately $2,451,000. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC raised its position in Ingersoll-Rand by 32.0% in the 3rd quarter. Global Retirement Partners LLC now owns 334 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 81 shares during the period. Cetera Advisors LLC grew its stake in shares of Ingersoll-Rand by 3.5% during the third quarter. Cetera Advisors LLC now owns 2,456 shares of the industrial products company’s stock valued at $302,000 after buying an additional 83 shares during the last quarter. Pennsylvania Trust Co grew its stake in shares of Ingersoll-Rand by 5.0% during the third quarter. Pennsylvania Trust Co now owns 1,885 shares of the industrial products company’s stock valued at $232,000 after buying an additional 90 shares during the last quarter. Covington Capital Management increased its holdings in shares of Ingersoll-Rand by 1.6% in the third quarter. Covington Capital Management now owns 5,794 shares of the industrial products company’s stock worth $714,000 after buying an additional 93 shares during the period. Finally, CWM LLC increased its holdings in shares of Ingersoll-Rand by 4.5% in the third quarter. CWM LLC now owns 2,203 shares of the industrial products company’s stock worth $271,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 78.92% of the company’s stock.
Ingersoll-Rand Company Profile
Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.
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