Ingersoll-Rand PLC (NYSE:IR) Forecasted to Earn Q2 2019 Earnings of $2.05 Per Share

Ingersoll-Rand PLC (NYSE:IR) – Research analysts at KeyCorp cut their Q2 2019 earnings estimates for shares of Ingersoll-Rand in a note issued to investors on Tuesday, April 30th, according to Zacks Investment Research. KeyCorp analyst J. Hammond now forecasts that the industrial products company will post earnings of $2.05 per share for the quarter, down from their prior estimate of $2.10. KeyCorp has a “Overweight” rating and a $135.00 price objective on the stock. KeyCorp also issued estimates for Ingersoll-Rand’s Q3 2019 earnings at $1.92 EPS, Q4 2019 earnings at $1.49 EPS and FY2020 earnings at $7.10 EPS.

A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets increased their price objective on Ingersoll-Rand from $112.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Wells Fargo & Co increased their target price on Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Credit Suisse Group increased their target price on Ingersoll-Rand from $122.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Barclays increased their target price on Ingersoll-Rand from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Ingersoll-Rand currently has a consensus rating of “Buy” and a consensus price target of $123.96.

Shares of NYSE:IR traded down $1.08 on Thursday, reaching $120.82. 741,109 shares of the company traded hands, compared to its average volume of 1,503,932. Ingersoll-Rand has a fifty-two week low of $85.15 and a fifty-two week high of $125.26. The company has a market capitalization of $29.11 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.58.

Ingersoll-Rand (NYSE:IR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Ingersoll-Rand by 5.0% in the fourth quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock worth $1,716,550,000 after acquiring an additional 901,225 shares during the last quarter. Vanguard Group Inc increased its position in Ingersoll-Rand by 0.3% during the third quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock worth $1,753,427,000 after buying an additional 43,240 shares during the last quarter. FMR LLC increased its position in Ingersoll-Rand by 16.0% during the first quarter. FMR LLC now owns 5,672,472 shares of the industrial products company’s stock worth $612,343,000 after buying an additional 781,104 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ingersoll-Rand by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock worth $528,432,000 after buying an additional 1,085,581 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Ingersoll-Rand by 3.9% during the fourth quarter. Bank of America Corp DE now owns 3,980,294 shares of the industrial products company’s stock worth $363,122,000 after buying an additional 149,485 shares during the last quarter. 81.51% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider David S. Regnery sold 7,957 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $122.25, for a total value of $972,743.25. Following the transaction, the insider now directly owns 58,735 shares of the company’s stock, valued at $7,180,353.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan K. Carter sold 70,037 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.67, for a total transaction of $7,400,809.79. The disclosure for this sale can be found here. Insiders sold 218,760 shares of company stock valued at $23,276,480 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.75%. Ingersoll-Rand’s payout ratio is currently 37.79%.

About Ingersoll-Rand

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.

See Also: Intrinsic Value

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Earnings History and Estimates for Ingersoll-Rand (NYSE:IR)

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