Ingersoll-Rand (NYSE:IR) Shares Gap Up to $131.69

Ingersoll-Rand PLC (NYSE:IR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $129.01, but opened at $131.69. Ingersoll-Rand shares last traded at $131.35, with a volume of 27,543 shares changing hands.

Several equities research analysts have commented on IR shares. Deutsche Bank downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and dropped their price objective for the company from $137.00 to $135.00 in a report on Tuesday, October 29th. They noted that the move was a valuation call. BMO Capital Markets set a $145.00 target price on shares of Ingersoll-Rand and gave the stock a “buy” rating in a research note on Monday, November 4th. Stephens downgraded shares of Ingersoll-Rand from an “overweight” rating to an “equal” rating in a research note on Monday, October 7th. Barclays reissued a “buy” rating and issued a $134.00 price target on shares of Ingersoll-Rand in a research report on Friday, October 4th. Finally, Zacks Investment Research cut shares of Ingersoll-Rand from a “hold” rating to a “sell” rating and set a $138.00 price target on the stock. in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $135.25.

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 1.28. The firm has a market cap of $31.55 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.91 and a beta of 1.22. The firm has a 50 day simple moving average of $127.17 and a 200 day simple moving average of $123.09.

Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.08. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts predict that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, December 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.

In other news, SVP Keith A. Sultana sold 7,010 shares of Ingersoll-Rand stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $876,250.00. Following the completion of the sale, the senior vice president now owns 19,608 shares in the company, valued at approximately $2,451,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Marcia J. Avedon sold 7,450 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $129.00, for a total value of $961,050.00. Following the transaction, the senior vice president now directly owns 99,075 shares of the company’s stock, valued at approximately $12,780,675. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Ingersoll-Rand by 0.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 169,899 shares of the industrial products company’s stock worth $21,521,000 after purchasing an additional 1,540 shares during the last quarter. Berman Capital Advisors LLC lifted its position in Ingersoll-Rand by 93.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock worth $40,000 after buying an additional 153 shares during the last quarter. Ibex Wealth Advisors purchased a new stake in Ingersoll-Rand in the second quarter worth approximately $66,000. AGF Investments LLC boosted its stake in Ingersoll-Rand by 25.6% in the second quarter. AGF Investments LLC now owns 2,552 shares of the industrial products company’s stock worth $323,000 after buying an additional 520 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in Ingersoll-Rand by 1.1% in the second quarter. Aperio Group LLC now owns 192,107 shares of the industrial products company’s stock worth $24,334,000 after buying an additional 2,162 shares in the last quarter. 79.12% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll-Rand Company Profile (NYSE:IR)

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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