Ingersoll-Rand PLC (Ireland) (IR) Downgraded to Neutral at Bank of America Corporation

Bank of America Corporation lowered shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) from a buy rating to a neutral rating in a report released on Tuesday, October 17th, Marketbeat.com reports. Bank of America Corporation currently has $96.00 target price on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. UBS AG set a $97.00 target price on shares of Ingersoll-Rand PLC (Ireland) and gave the stock a buy rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Ingersoll-Rand PLC (Ireland) from a buy rating to a hold rating in a report on Wednesday, July 12th. Stifel Nicolaus restated a buy rating on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, August 24th. BidaskClub lowered shares of Ingersoll-Rand PLC (Ireland) from a sell rating to a strong sell rating in a report on Saturday, August 5th. Finally, Royal Bank Of Canada reiterated a sector perform rating and issued a $93.00 price target (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $99.18.

Shares of Ingersoll-Rand PLC (NYSE:IR) traded up $0.47 during mid-day trading on Tuesday, reaching $86.72. 481,177 shares of the company’s stock were exchanged, compared to its average volume of 1,951,558. Ingersoll-Rand PLC has a 1 year low of $67.04 and a 1 year high of $96.23. The company has a market capitalization of $21,551.11, a PE ratio of 19.87, a PEG ratio of 2.08 and a beta of 1.37. The company has a current ratio of 1.24, a quick ratio of 0.89 and a debt-to-equity ratio of 0.43.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Ingersoll-Rand PLC (Ireland) had a net margin of 7.47% and a return on equity of 16.65%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. analysts forecast that Ingersoll-Rand PLC will post 4.51 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, December 7th. Ingersoll-Rand PLC (Ireland)’s payout ratio is 44.89%.

In other Ingersoll-Rand PLC (Ireland) news, insider Marcia J. Avedon sold 10,460 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $94.00, for a total value of $983,240.00. Following the completion of the sale, the insider now owns 111,637 shares in the company, valued at approximately $10,493,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Didier P. Teirlinck sold 26,174 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $86.10, for a total transaction of $2,253,581.40. Following the completion of the transaction, the executive vice president now owns 131,129 shares of the company’s stock, valued at $11,290,206.90. The disclosure for this sale can be found here. Insiders sold a total of 50,731 shares of company stock valued at $4,576,036 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in IR. Waldron LP acquired a new position in Ingersoll-Rand PLC (Ireland) during the 1st quarter worth approximately $287,000. Koch Industries Inc. acquired a new position in Ingersoll-Rand PLC (Ireland) during the 1st quarter worth approximately $201,000. Foresters Investment Management Company Inc. increased its position in Ingersoll-Rand PLC (Ireland) by 5.9% during the 1st quarter. Foresters Investment Management Company Inc. now owns 216,025 shares of the industrial products company’s stock worth $17,567,000 after purchasing an additional 12,100 shares in the last quarter. Global X Management Co. LLC increased its position in Ingersoll-Rand PLC (Ireland) by 28.8% during the 1st quarter. Global X Management Co. LLC now owns 4,605 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 1,029 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in Ingersoll-Rand PLC (Ireland) by 905.0% during the 1st quarter. Meeder Asset Management Inc. now owns 69,995 shares of the industrial products company’s stock worth $5,693,000 after purchasing an additional 63,030 shares in the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

About Ingersoll-Rand PLC (Ireland)

Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.

Analyst Recommendations for Ingersoll-Rand PLC (Ireland) (NYSE:IR)

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