Economy

JP Morgan Cuts Rating On Ingersoll-Rand plc (Ireland) (IR)

JP Morgan Cuts Rating On Ingersoll-Rand plc (Ireland) (IR)”

The firm owned 886,512 shares of the industrial products company's stock after selling 133,442 shares during the quarter.

Traders are more bearish of late as evidenced by the increase in short interest.

Several other large investors also recently added to or reduced their stakes in the stock. The industrial products company reported $1.49 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.46 by $0.03. BlackRock Inc. now owns 17,554,733 shares of the industrial products company's stock valued at $1,427,553,000 after purchasing an additional 16,497,616 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ingersoll-Rand PLC (Ireland) by 57.8% in the third quarter. Stanley Capital Management Llc, a Texas-based fund reported 55,159 shares.#img1#. The value of the investment in (IR) went from $5,334,000 to $5,505,000 increasing 3.2% quarter over quarter. About 1,000 shares traded. Finally, US Bancorp DE increased its position in shares of Ingersoll-Rand PLC (Ireland) by 13.3% in the third quarter. Following the transaction, the executive vice president now owns 110,695 shares in the company, valued at $8,400,643.55. Finally, Massachusetts Financial Services Co.

Analysts expect Ingersoll-Rand PLC (NYSE:IR) to report $1.44 EPS on October, 25.They anticipate $0.03 EPS change or 2.13% from last quarter's $1.41 EPS. Zions Bancorporation now owns 2,001 shares of the industrial products company's stock valued at $163,000 after acquiring an additional 22 shares during the period. Smith Asset Grp Inc LP invested 0.01% in Ingersoll-Rand PLC (NYSE:IR). The 50 day moving average was up $2.11 whereas the 200 day moving average was up $1.85 or +2.13%. Northern Trust Corp now owns 2,983,811 shares of the company's stock valued at $202,721,000 after buying an additional 91,122 shares during the period. $80.35's average target is -11.18% below currents $90.46 stock price. Following the completion of the transaction, the director now directly owns 65,932 shares in the company, valued at $5,803,993.96. The disclosure for this sale can be found here.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another publication, it was copied illegally and republished in violation of global copyright law. About 1.11 million shares traded. Whittier Of Nevada Incorporated invested 0% of its portfolio in Ingersoll-Rand PLC (NYSE:IR).

Shares are trading at $88.69 which is slightly above $86.58, the stock's 50 day moving average and just above the 200 day moving average of $86.84. Generation Investment Management Llp who had been investing in Ingersoll for a number of months, seems to be less bullish one the $23.08 billion market cap company. After $1.49 actual EPS reported by Ingersoll-Rand PLC for the previous quarter, Wall Street now forecasts -3.36% negative EPS growth. The company earned $3.36 billion during the quarter, compared to the consensus estimate of $3.35 billion. Ingersoll-Rand PLC (Ireland)'s revenue for the quarter was up 4.4% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, March 10th will be given a $0.40 dividend. Even with dividends reinvested, that only amounts to an average annual total return of about 1.6%; so by comparison collecting a yield above 2% would appear considerably attractive if that yield is sustainable.

On 9/12/2017, Stifel Nicolaus released a statement on Ingersoll-Rand (NYSE:IR) bumped up the target price from $98.00 to $103.00 that suggested an upside of 0.14%. The ex-dividend date is Thursday, September 7th. Ingersoll-Rand PLC (Ireland)'s payout ratio is presently 44.78%. Parkwood Limited Liability Company reported 0.07% in Ingersoll-Rand PLC (NYSE:IR).

New York-listed Ingersoll-Rand (NYSE:IR) shares have been lowered by stock research analysts at J.P. Morgan. Ingersoll-Rand Plc had 48 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was maintained by BMO Capital Markets on Friday, April 21 with "Buy". Stifel Nicolaus reaffirmed a "buy" rating on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, August 24th. The stock has "Sector Perform" rating by RBC Capital Markets on Thursday, October 27. The rating was initiated by BMO Capital Markets with "Outperform" on Wednesday, July 13.

Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Business's business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.



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