$4.57 Billion in Sales Expected for Ingersoll-Rand PLC (IR) This Quarter
Brokerages forecast that Ingersoll-Rand PLC (NYSE:IR) will post sales of $4.57 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Ingersoll-Rand’s earnings, with the lowest sales estimate coming in at $4.51 billion and the highest estimate coming in at $4.63 billion. Ingersoll-Rand posted sales of $4.36 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The business is expected to report its next quarterly earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Ingersoll-Rand will report full year sales of $16.51 billion for the current financial year, with estimates ranging from $16.37 billion to $16.65 billion. For the next year, analysts expect that the business will post sales of $17.23 billion, with estimates ranging from $16.99 billion to $17.61 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS.
In other Ingersoll-Rand news, CFO Susan K. Carter sold 70,037 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.67, for a total value of $7,400,809.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael W. Lamach sold 105,064 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.74, for a total value of $11,109,467.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,726 shares of company stock valued at $22,538,262. 0.70% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in IR. JPMorgan Chase & Co. raised its holdings in shares of Ingersoll-Rand by 26.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after acquiring an additional 1,085,581 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Ingersoll-Rand by 7.8% in the 3rd quarter. Legal & General Group Plc now owns 1,393,640 shares of the industrial products company’s stock valued at $142,569,000 after acquiring an additional 100,734 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Ingersoll-Rand by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock valued at $1,753,427,000 after acquiring an additional 43,240 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Ingersoll-Rand by 3.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 20,157 shares of the industrial products company’s stock valued at $1,839,000 after acquiring an additional 622 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Ingersoll-Rand by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,993 shares of the industrial products company’s stock valued at $1,641,000 after acquiring an additional 2,279 shares in the last quarter. 81.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IR stock traded down $1.26 on Wednesday, hitting $122.29. 953,545 shares of the stock were exchanged, compared to its average volume of 1,492,592. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.58. The company has a market capitalization of $29.63 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.77 and a beta of 1.32. Ingersoll-Rand has a one year low of $85.15 and a one year high of $125.26.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.12 annualized dividend and a yield of 1.73%. Ingersoll-Rand’s dividend payout ratio is currently 37.79%.
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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