Ingersoll-Rand (IR) Reaches New 52-Week High at $99.39

Ingersoll-Rand PLC (NYSE:IR)’s share price hit a new 52-week high on Thursday . The stock traded as high as $99.39 and last traded at $98.99, with a volume of 41733 shares trading hands. The stock had previously closed at $98.40.

Several brokerages recently weighed in on IR. Zacks Investment Research lowered Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. Bank of America lifted their price target on Ingersoll-Rand from $96.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Cowen began coverage on Ingersoll-Rand in a research note on Tuesday, June 19th. They issued an “outperform” rating and a $111.00 price target for the company. Stifel Nicolaus lifted their price target on Ingersoll-Rand from $94.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Finally, Wolfe Research began coverage on Ingersoll-Rand in a research note on Wednesday, June 27th. They issued an “outperform” rating for the company. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $106.23.

The company has a quick ratio of 0.93, a current ratio of 1.30 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $23.61 billion, a P/E ratio of 21.80, a P/E/G ratio of 1.50 and a beta of 1.34.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.13. Ingersoll-Rand had a return on equity of 18.11% and a net margin of 9.28%. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the business earned $1.49 EPS. Ingersoll-Rand’s quarterly revenue was up 11.5% on a year-over-year basis. analysts expect that Ingersoll-Rand PLC will post 5.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be paid a dividend of $0.53 per share. This is a positive change from Ingersoll-Rand’s previous quarterly dividend of $0.45. This represents a $2.12 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, September 6th. Ingersoll-Rand’s payout ratio is 39.91%.

In other news, EVP David S. Regnery sold 12,098 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $97.00, for a total transaction of $1,173,506.00. Following the transaction, the executive vice president now directly owns 55,810 shares in the company, valued at approximately $5,413,570. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Marcia J. Avedon sold 10,460 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $92.00, for a total value of $962,320.00. Following the transaction, the senior vice president now owns 113,288 shares in the company, valued at $10,422,496. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,021 shares of company stock valued at $3,525,936. 0.70% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC boosted its holdings in shares of Ingersoll-Rand by 17.7% during the 2nd quarter. Park Avenue Securities LLC now owns 3,463 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 521 shares during the last quarter. Synovus Financial Corp lifted its holdings in Ingersoll-Rand by 38.6% in the second quarter. Synovus Financial Corp now owns 1,898 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 529 shares during the last quarter. United Capital Financial Advisers LLC lifted its holdings in Ingersoll-Rand by 7.1% in the first quarter. United Capital Financial Advisers LLC now owns 8,600 shares of the industrial products company’s stock valued at $735,000 after acquiring an additional 571 shares during the last quarter. Sentry Investment Management LLC lifted its holdings in Ingersoll-Rand by 3.3% in the first quarter. Sentry Investment Management LLC now owns 18,486 shares of the industrial products company’s stock valued at $1,581,000 after acquiring an additional 595 shares during the last quarter. Finally, Hemenway Trust Co LLC lifted its holdings in Ingersoll-Rand by 17.9% in the second quarter. Hemenway Trust Co LLC now owns 3,950 shares of the industrial products company’s stock valued at $354,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

About Ingersoll-Rand (NYSE:IR)

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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