Wall Street brokerages forecast that Ingersoll-Rand PLC (NYSE:IR) will announce sales of $3.51 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Ingersoll-Rand’s earnings. The highest sales estimate is $3.56 billion and the lowest is $3.47 billion. Ingersoll-Rand reported sales of $3.38 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The business is expected to issue its next quarterly earnings report on Wednesday, April 24th.

On average, analysts expect that Ingersoll-Rand will report full year sales of $16.44 billion for the current fiscal year, with estimates ranging from $16.36 billion to $16.58 billion. For the next year, analysts expect that the company will report sales of $17.13 billion, with estimates ranging from $16.92 billion to $17.61 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Ingersoll-Rand.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. Ingersoll-Rand had a return on equity of 19.78% and a net margin of 8.54%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the business earned $1.02 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis.

A number of research firms have weighed in on IR. ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Cowen restated a “buy” rating and issued a $115.00 price target on shares of Ingersoll-Rand in a research note on Wednesday, January 23rd. OTR Global downgraded Ingersoll-Rand to a “positive” rating in a research note on Friday, January 18th. Zacks Investment Research upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research note on Thursday, December 20th. Finally, Citigroup upped their price target on Ingersoll-Rand from $117.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, October 25th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $109.77.

Shares of IR stock traded up $1.23 during midday trading on Wednesday, reaching $104.73. 1,300,719 shares of the stock were exchanged, compared to its average volume of 1,687,081. Ingersoll-Rand has a 1 year low of $79.63 and a 1 year high of $107.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 1.33. The company has a market capitalization of $25.36 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.26.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors 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 2.02%. Ingersoll-Rand’s payout ratio is currently 37.79%.

In related news, CEO Michael W. Lamach sold 166,407 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $90.39, for a total value of $15,041,528.73. Following the transaction, the chief executive officer now directly owns 417,275 shares of the company’s stock, valued at approximately $37,717,487.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher J. Kuehn sold 6,501 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $99.85, for a total value of $649,124.85. 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 ninety days. 0.70% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in IR. CI Investments Inc. lifted its holdings in shares of Ingersoll-Rand by 14.0% during the 4th quarter. CI Investments Inc. now owns 744,452 shares of the industrial products company’s stock valued at $67,916,000 after buying an additional 91,652 shares during the period. Nalls Sherbakoff Group LLC bought a new position in shares of Ingersoll-Rand during the 4th quarter valued at $46,000. grace capital bought a new position in shares of Ingersoll-Rand during the 4th quarter valued at $82,000. Macquarie Group Ltd. lifted its holdings in shares of Ingersoll-Rand by 22.7% during the 4th quarter. Macquarie Group Ltd. now owns 255,127 shares of the industrial products company’s stock valued at $23,275,000 after buying an additional 47,212 shares during the period. Finally, Cetera Advisor Networks LLC lifted its holdings in shares of Ingersoll-Rand by 5.4% during the 4th quarter. Cetera Advisor Networks LLC now owns 26,619 shares of the industrial products company’s stock valued at $2,431,000 after buying an additional 1,371 shares during the period. 80.59% of the stock is currently owned by institutional investors and hedge funds.

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 and Estimates for Ingersoll-Rand (NYSE:IR)

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