Wall Street analysts expect Ingersoll-Rand PLC (NYSE:IR) to announce sales of $3.84 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Ingersoll-Rand’s earnings. The lowest sales estimate is $3.80 billion and the highest is $3.91 billion. Ingersoll-Rand posted sales of $3.62 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The business is scheduled to issue its next earnings results on Wednesday, January 30th.
On average, analysts expect that Ingersoll-Rand will report full-year sales of $15.61 billion for the current year, with estimates ranging from $15.56 billion to $15.68 billion. For the next year, analysts anticipate that the company will post sales of $16.39 billion, with estimates ranging from $16.28 billion to $16.54 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.04. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.02 billion. Ingersoll-Rand had a net margin of 10.03% and a return on equity of 18.75%. Ingersoll-Rand’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS.
In other news, SVP Marcia J. Avedon sold 10,408 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $104.00, for a total value of $1,082,432.00. Following the completion of the transaction, the senior vice president now owns 125,098 shares in the company, valued at approximately $13,010,192. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in IR. Point72 Hong Kong Ltd purchased a new position in shares of Ingersoll-Rand in the 3rd quarter valued at about $101,000. Flagship Harbor Advisors LLC purchased a new position in Ingersoll-Rand during the 2nd quarter valued at about $106,000. Girard Partners LTD. purchased a new position in Ingersoll-Rand during the 3rd quarter valued at about $112,000. Fort L.P. purchased a new position in Ingersoll-Rand during the 2nd quarter valued at about $121,000. Finally, CWM LLC increased its holdings in Ingersoll-Rand by 653.3% during the 2nd quarter. CWM LLC now owns 1,499 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.
Ingersoll-Rand stock traded down $3.23 during trading hours on Wednesday, reaching $97.98. 1,247,520 shares of the stock were exchanged, compared to its average volume of 1,459,917. The company has a market cap of $24.86 billion, a P/E ratio of 21.73, a PEG ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.41. Ingersoll-Rand has a 52-week low of $79.63 and a 52-week high of $107.08.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.16%. Ingersoll-Rand’s dividend payout ratio is presently 47.01%.
Ingersoll-Rand declared that its Board of Directors has initiated a share 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 reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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