Ingersoll-Rand PLC (IR) Receives Average Rating of “Buy” from Analysts

Ingersoll-Rand PLC (NYSE:IR) has been given an average recommendation of “Buy” by the seventeen research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $110.43.

Several brokerages recently commented on IR. Robert W. Baird set a $106.00 price target on Ingersoll-Rand and gave the stock a “hold” rating in a research report on Thursday, October 25th. Cowen reiterated a “buy” rating and set a $115.00 price target on shares of Ingersoll-Rand in a research report on Monday, September 10th. Stephens began coverage on Ingersoll-Rand in a research report on Monday, November 19th. They set an “overweight” rating and a $118.00 price target for the company. ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Finally, JPMorgan Chase & Co. upgraded Ingersoll-Rand from a “neutral” rating to an “overweight” rating in a research report on Friday, September 21st.

Ingersoll-Rand stock opened at $95.97 on Tuesday. The company has a market capitalization of $23.58 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. Ingersoll-Rand has a 12 month low of $79.63 and a 12 month high of $107.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.41 and a quick ratio of 0.99.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.04. Ingersoll-Rand had a return on equity of 18.75% and a net margin of 10.03%. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Ingersoll-Rand will post 5.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, December 6th. Ingersoll-Rand’s payout ratio is currently 47.01%.

Ingersoll-Rand announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 3rd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in Ingersoll-Rand in the 3rd quarter valued at $101,000. Girard Partners LTD. purchased a new stake in Ingersoll-Rand in the 3rd quarter valued at $112,000. Flagship Harbor Advisors LLC purchased a new stake in Ingersoll-Rand in the 2nd quarter valued at $106,000. Fort L.P. purchased a new stake in Ingersoll-Rand in the 2nd quarter valued at $121,000. Finally, Hartford Financial Management Inc. purchased a new stake in Ingersoll-Rand in the 2nd quarter valued at $149,000. Institutional investors own 79.66% of the company’s stock.

About Ingersoll-Rand

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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Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

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