Ingersoll-Rand (IR) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Ingersoll-Rand (NYSE:IR) released its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03, RTT News reports. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.86 billion. Ingersoll-Rand had a return on equity of 19.78% and a net margin of 8.54%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 EPS. Ingersoll-Rand updated its FY 2019 guidance to $6.15-6.35 EPS and its FY19 guidance to $6.15-6.35 EPS.

NYSE IR opened at $104.59 on Thursday. Ingersoll-Rand has a 52 week low of $79.63 and a 52 week high of $107.08. The company has a quick ratio of 0.94, a current ratio of 1.33 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $25.04 billion, a PE ratio of 18.64, a PEG ratio of 1.60 and a beta of 1.26.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.12 annualized dividend and a dividend yield of 2.03%. Ingersoll-Rand’s dividend payout ratio (DPR) is currently 37.79%.

Several analysts have recently issued reports on the company. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. Credit Suisse Group restated an “outperform” rating and set a $115.00 target price (up previously from $108.00) on shares of Ingersoll-Rand in a research note on Thursday, January 31st. Robert W. Baird set a $106.00 target price on Ingersoll-Rand and gave the company a “hold” rating in a research note on Thursday, October 25th. Stephens assumed coverage on Ingersoll-Rand in a research note on Monday, November 19th. They set an “overweight” rating and a $118.00 target price for the company. Finally, ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $109.77.

In other Ingersoll-Rand news, VP Christopher J. Kuehn sold 6,501 shares of Ingersoll-Rand stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $99.85, for a total transaction of $649,124.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Christopher J. Kuehn sold 7,142 shares of Ingersoll-Rand stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $103.94, for a total value of $742,339.48. Following the transaction, the vice president now owns 18,785 shares in the company, valued at $1,952,512.90. The disclosure for this sale can be found here. Insiders sold a total of 198,351 shares of company stock worth $18,287,864 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resources Investment Advisors Inc. acquired a new stake in shares of Ingersoll-Rand in the 4th quarter valued at about $27,000. Oregon Public Employees Retirement Fund raised its stake in shares of Ingersoll-Rand by 8,911.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 2,413,413 shares during the period. Legacy Financial Advisors Inc. raised its stake in shares of Ingersoll-Rand by 78.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 312 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 137 shares during the period. Ruggie Capital Group acquired a new stake in shares of Ingersoll-Rand in the 4th quarter valued at about $28,000. Finally, First Mercantile Trust Co. raised its stake in shares of Ingersoll-Rand by 67.9% in the 4th quarter. First Mercantile Trust Co. now owns 470 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 190 shares during the period. 80.59% of the stock is currently owned by hedge funds and other institutional investors.

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Ingersoll-Rand Company Profile

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

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Earnings History for Ingersoll-Rand (NYSE:IR)

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