Ingersoll-Rand PLC (Ireland) (IR) Price Target Raised to $103.00

Ingersoll-Rand PLC (Ireland) (NYSE:IR) had its target price hoisted by Citigroup Inc. from $98.00 to $103.00 in a research note released on Monday morning. The firm currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. UBS AG set a $97.00 price objective on shares of Ingersoll-Rand PLC (Ireland) and gave the stock a buy rating in a research note on Thursday, July 27th. Zacks Investment Research lowered shares of Ingersoll-Rand PLC (Ireland) from a buy rating to a hold rating in a research note on Wednesday, July 12th. Stifel Nicolaus reiterated a buy rating on shares of Ingersoll-Rand PLC (Ireland) in a research note on Thursday, August 24th. BidaskClub lowered shares of Ingersoll-Rand PLC (Ireland) from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Finally, Royal Bank Of Canada reissued a sector perform rating and set a $93.00 target price (up previously from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $99.60.

Shares of Ingersoll-Rand PLC (IR) opened at 91.38 on Monday. The stock has a market cap of $23.18 billion, a PE ratio of 22.69 and a beta of 1.33. The stock’s 50 day moving average is $88.39 and its 200-day moving average is $87.99. Ingersoll-Rand PLC has a 12-month low of $63.87 and a 12-month high of $94.39.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.78 billion. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. Ingersoll-Rand PLC (Ireland)’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 EPS. Equities analysts expect that Ingersoll-Rand PLC will post $4.54 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 7th. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is currently 44.78%.

In other news, EVP Didier P. Teirlinck sold 26,174 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $86.10, for a total value of $2,253,581.40. Following the sale, the executive vice president now directly owns 131,129 shares of the company’s stock, valued at approximately $11,290,206.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.03, for a total transaction of $220,075.00. Following the completion of the sale, the director now directly owns 65,932 shares in the company, valued at $5,803,993.96. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in IR. BlackRock Inc. boosted its holdings in shares of Ingersoll-Rand PLC (Ireland) by 1,560.6% in the 1st quarter. BlackRock Inc. now owns 17,554,733 shares of the industrial products company’s stock valued at $1,427,553,000 after acquiring an additional 16,497,616 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll-Rand PLC (Ireland) by 182.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,926,345 shares of the industrial products company’s stock valued at $1,089,950,000 after acquiring an additional 7,702,903 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Ingersoll-Rand PLC (Ireland) in the 2nd quarter valued at $100,929,000. Janus Henderson Group PLC boosted its holdings in shares of Ingersoll-Rand PLC (Ireland) by 2,075.3% in the 2nd quarter. Janus Henderson Group PLC now owns 716,452 shares of the industrial products company’s stock valued at $65,477,000 after acquiring an additional 683,516 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Ingersoll-Rand PLC (Ireland) in the 1st quarter valued at $33,005,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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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