Ingersoll-Rand PLC (IR) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $0.37. The company posted revenue of $2894.00 million in the period, compared to analysts expectations of $2889.53 million. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.
Many Wall Street Analysts have commented on Ingersoll-Rand PLC. Ingersoll-Rand PLC was Upgraded by Buckingham Research to ” Buy” on Apr 14, 2016. Ingersoll-Rand PLC was Downgraded by Credit Agricole to ” Outperform” on Apr 4, 2016. Company shares were Downgraded by Goldman on Mar 28, 2016 to ” Neutral”, Firm has raised the Price Target to $ 64 from a previous price target of $61 .
Ingersoll-Rand PLC opened for trading at $63.71 and hit $64.47 on the upside on Friday, eventually ending the session at $64.44, with a gain of 1.43% or 0.91 points. The heightened volatility saw the trading volume jump to 13,90,385 shares. Company has a market cap of $16,551 M.
In a different news, on Apr 15, 2016, Didier P Teirlinck (EVP, Climate Segment) sold 10,000 shares at $62.00 per share price. According to the SEC, on Apr 15, 2016, Robert Zafari (EVP, Industrial Segment) sold 7,000 shares at $63.00 per share price. On Mar 21, 2016, Michael W Lamach (Chairman and CEO) sold 185,559 shares at $60.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Ingersoll-Rand Public Limited Company (IR-Ireland) is a diversified global company that provides products services and solutions to improve the quality and comfort of air in homes and buildings transport and protect food and perishables. The Company is also engaged in the design manufacture sale and service of a portfolio of industrial and commercial products. The Company focuses on parts service used equipment and rentals. Its business segments consist of Climate and Industrial. The Climate segment includes Trane and American Standard Heating and Air Conditioning which provides heating ventilation and air conditioning (HVAC) systems; commercial and residential building services parts support and controls and Thermo King transport temperature control solutions. The Industrial segment includes Ingersoll Rand compressed air systems and services power tools material handling systems ARO fluid management equipment Club Car golf utility and rough terrain vehicles.