Analysts forecast that Ingersoll Rand Inc. (NYSE:IR – Get Rating) will announce $1.29 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ingersoll Rand’s earnings, with the lowest sales estimate coming in at $1.28 billion and the highest estimate coming in at $1.30 billion. Ingersoll Rand posted sales of $1.37 billion during the same quarter last year, which would indicate a negative year over year growth rate of 5.8%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Ingersoll Rand will report full year sales of $5.73 billion for the current fiscal year, with estimates ranging from $5.67 billion to $5.78 billion. For the next year, analysts forecast that the company will post sales of $6.07 billion, with estimates ranging from $6.02 billion to $6.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Ingersoll Rand.
Ingersoll Rand (NYSE:IR – Get Rating) last released its earnings results on Wednesday, February 23rd. The industrial products company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Ingersoll Rand had a return on equity of 8.35% and a net margin of 10.43%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year.
Ingersoll Rand stock traded up $0.18 during mid-day trading on Wednesday, hitting $46.62. 1,568,887 shares of the company’s stock were exchanged, compared to its average volume of 2,556,292. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.38. Ingersoll Rand has a 1-year low of $44.85 and a 1-year high of $62.64. The stock has a 50 day moving average of $50.14 and a two-hundred day moving average of $54.74. The stock has a market cap of $19.00 billion, a P/E ratio of 34.40 and a beta of 1.49.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Wednesday, March 9th were given a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $0.08 annualized dividend and a yield of 0.17%. Ingersoll Rand’s dividend payout ratio (DPR) is 5.93%.
In other news, insider Nicholas J. Kendall-Jones sold 6,000 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $50.88, for a total transaction of $305,280.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 33,105 shares of the business’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $50.09, for a total transaction of $1,658,229.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,105 shares of company stock valued at $4,248,009. 0.69% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of IR. Geode Capital Management LLC lifted its position in Ingersoll Rand by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,188,436 shares of the industrial products company’s stock valued at $361,397,000 after purchasing an additional 746,032 shares during the last quarter. DNB Asset Management AS grew its position in Ingersoll Rand by 2.4% in the fourth quarter. DNB Asset Management AS now owns 100,409 shares of the industrial products company’s stock worth $6,212,000 after acquiring an additional 2,391 shares in the last quarter. Maverick Capital Ltd. grew its position in Ingersoll Rand by 2,692.1% in the third quarter. Maverick Capital Ltd. now owns 23,063 shares of the industrial products company’s stock worth $1,163,000 after acquiring an additional 22,237 shares in the last quarter. Turtle Creek Asset Management Inc. lifted its stake in shares of Ingersoll Rand by 17.6% in the third quarter. Turtle Creek Asset Management Inc. now owns 3,070,056 shares of the industrial products company’s stock worth $154,762,000 after buying an additional 458,900 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Ingersoll Rand by 1.1% in the second quarter. Bank of America Corp DE now owns 1,547,787 shares of the industrial products company’s stock worth $75,547,000 after buying an additional 16,944 shares during the last quarter. 96.08% of the stock is currently owned by institutional investors.
About Ingersoll Rand (Get Rating)
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
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