$4.02 Billion in Sales Expected for Ingersoll-Rand PLC (IR) This Quarter

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Wall Street analysts expect that Ingersoll-Rand PLC (NYSE:IR) will report sales of $4.02 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Ingersoll-Rand’s earnings, with the lowest sales estimate coming in at $3.98 billion and the highest estimate coming in at $4.07 billion. Ingersoll-Rand reported sales of $3.67 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The firm is scheduled to issue its next earnings results before the market opens on Wednesday, October 24th.

According to Zacks, analysts expect that Ingersoll-Rand will report full-year sales of $15.59 billion for the current fiscal year, with estimates ranging from $15.52 billion to $15.64 billion. For the next fiscal year, analysts anticipate that the business will report sales of $16.31 billion, with estimates ranging from $16.21 billion to $16.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Ingersoll-Rand.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.13. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 earnings per share.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Ingersoll-Rand from a “neutral” rating to an “overweight” rating in a research note on Friday, September 21st. UBS Group boosted their price target on shares of Ingersoll-Rand from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Cowen reissued a “buy” rating and issued a $115.00 price target on shares of Ingersoll-Rand in a research note on Monday, September 10th. Morgan Stanley assumed coverage on shares of Ingersoll-Rand in a research note on Monday, August 20th. They issued an “overweight” rating and a $111.00 price target for the company. Finally, Bank of America boosted their price target on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $109.55.

In other Ingersoll-Rand news, insider Marcia J. Avedon sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $96.00, for a total value of $960,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Paul A. Camuti sold 1,800 shares of the business’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $95.00, for a total transaction of $171,000.00. Following the completion of the transaction, the senior vice president now owns 59,290 shares in the company, valued at approximately $5,632,550. The disclosure for this sale can be found here. Insiders sold 36,969 shares of company stock worth $3,646,048 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IR. Russell Investments Group Ltd. increased its position in shares of Ingersoll-Rand by 69.7% during the first quarter. Russell Investments Group Ltd. now owns 243,010 shares of the industrial products company’s stock valued at $20,742,000 after buying an additional 99,805 shares during the period. Stifel Financial Corp increased its position in shares of Ingersoll-Rand by 3.4% during the first quarter. Stifel Financial Corp now owns 109,548 shares of the industrial products company’s stock valued at $9,395,000 after buying an additional 3,558 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Ingersoll-Rand during the first quarter valued at about $467,000. State of Tennessee Treasury Department increased its position in shares of Ingersoll-Rand by 30.4% during the first quarter. State of Tennessee Treasury Department now owns 84,307 shares of the industrial products company’s stock valued at $7,209,000 after buying an additional 19,667 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Ingersoll-Rand by 19.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 66,103 shares of the industrial products company’s stock valued at $5,652,000 after buying an additional 10,800 shares during the period. Hedge funds and other institutional investors own 80.16% of the company’s stock.

Ingersoll-Rand stock traded down $1.11 during mid-day trading on Monday, hitting $103.12. The company’s stock had a trading volume of 1,325,791 shares, compared to its average volume of 1,640,634. 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 $25.10 billion, a PE ratio of 22.86, a P/E/G ratio of 1.59 and a beta of 1.31. Ingersoll-Rand has a 12 month low of $79.63 and a 12 month high of $105.76.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, December 6th. Ingersoll-Rand’s payout ratio is 47.01%.

Ingersoll-Rand Company Profile

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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