Ingersoll-Rand PLC (NYSE:IR) – Stock analysts at Jefferies Financial Group dropped their Q2 2019 earnings estimates for Ingersoll-Rand in a research note issued on Tuesday, April 30th, according to Zacks Investment Research. Jefferies Financial Group analyst S. Volkmann now expects that the industrial products company will post earnings per share of $2.00 for the quarter, down from their prior forecast of $2.05. Jefferies Financial Group also issued estimates for Ingersoll-Rand’s Q4 2019 earnings at $1.51 EPS and FY2020 earnings at $7.20 EPS.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share.
Shares of Ingersoll-Rand stock traded down $1.08 during trading on Thursday, reaching $120.82. The stock had a trading volume of 741,109 shares, compared to its average volume of 1,503,932. The firm has a market cap of $29.11 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32. Ingersoll-Rand has a 52 week low of $85.15 and a 52 week high of $125.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.58 and a quick ratio of 1.14.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 6th. Ingersoll-Rand’s dividend payout ratio is currently 37.79%.
In related news, insider David S. Regnery sold 7,957 shares of Ingersoll-Rand stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total value of $972,743.25. Following the sale, the insider now 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 SEC, which is available through this hyperlink. Also, CFO Susan K. Carter sold 70,037 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.67, for a total value of $7,400,809.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,760 shares of company stock worth $23,276,480. 0.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in IR. 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. Kentucky Retirement Systems acquired a new position in Ingersoll-Rand during the third quarter worth approximately $1,363,000. Teachers Advisors LLC increased its position in Ingersoll-Rand by 23.3% during the third quarter. Teachers Advisors LLC now owns 1,204,262 shares of the industrial products company’s stock worth $123,196,000 after buying an additional 227,800 shares during the last quarter. Nordea Investment Management AB acquired a new position in Ingersoll-Rand during the third quarter worth approximately $100,178,000. Finally, Kepos Capital LP acquired a new position in Ingersoll-Rand during the third quarter worth approximately $1,805,000. 81.51% of the stock is currently owned by hedge funds and other institutional investors.
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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