Ingersoll-Rand PLC (IR) was Downgraded by KeyBanc Capital Mkts to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Sep 9, 2016.
Many Wall Street Analysts have commented on Ingersoll-Rand PLC. Shares were Reiterated by Stifel on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $77 .
On the company’s financial health, Ingersoll-Rand PLC reported $1.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.30. The company had revenue of $3688.20 million for the quarter, compared to analysts expectations of $3692.31 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS.
Ingersoll-Rand PLC opened for trading at $66.44 and hit $67.19 on the upside on Wednesday, eventually ending the session at $67.1, with a gain of 0.89% or 0.59 points. The heightened volatility saw the trading volume jump to 1,230,192 shares. Company has a market cap of $17,312 M.
In a different news, on Sep 8, 2016, Richard J Swift (director) sold 2,100 shares at $67.99 per share price. According to the SEC, on Aug 31, 2016, Keith A Sultana (Senior Vice President) sold 3,071 shares at $68.81 per share price. On Aug 11, 2016, Marcia J Avedon (Senior Vice President) sold 5,815 shares at $68.17 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.