Ingersoll-Rand: Good Exposures, But Not So Much Value
Stephen Simpson, CFA
Stephen Simpson, CFA
Investors Have Bought Ingersoll Rand's Sizzle, Can It Deliver The Steak?
Stephen Simpson, CFA
Stephen Simpson, CFA
Apr. 1, 2015, 3:30 PM
- Actavis (ACT -1%) should outperform following its purchase of Allergan, and FDA action dates for eluxadoline and cariprazine could also be catalysts.
- Though Occidental Petroleum is the team's top pick in energy, Anadarko (APC +1.1%) is the best short-term play on a recovery in oil prices.
- Strong fundamentals and easy year-over-year comps make AvalonBay (AVB -0.9%) a pick in apartment rentals.
- A favorable Supreme Court ruling in King vs. Burwell by the end of June provides plenty of upside possibility with little downside for HCA Holdings (HCA -0.8%).
- Also on the buy list are Ingersoll-Rand (IR -1.5%), Nvidia (NVDA +0.2%), UTX (UTX -1.1%), and Disney (DIS +0.4%).
- Making the underperform list is the Gap (GPS -2.2%) thanks to less room for cost cutting and a forecast for continued weakness in sales. Also a Q2 sell: Tesla (TSLA -1%) " lacks any real technological advantage over its competitors" says the team, seeing a significant Q1 loss, an increase in the already-high cash burn, and a questionable delivery outlook.
- Source: Benzinga
Feb. 4, 2015, 7:55 AM
- Ingersoll-Rand (NYSE:IR) declares $0.29/share quarterly dividend, 16% increase from prior dividend of $0.25.
- Forward yield 1.72%
- Payable March 31; for shareholders of record March 13; ex-div March 11.
Jan. 30, 2015, 7:27 AM
- Net income of $255.5M, or $0.95 per share, vs. $47.7M, or $0.16 per share, for the same period last year. Adjusted EPS from continuing operations of $0.82.
- Approximately 3.4M shares were repurchased during the quarter for ~$200M as part of a $1.5B share repurchase program approved in Feb. 2014. The company repurchased approximately 22M shares for approximately ~$1.4B during full-year 2014.
- The company expects revenues for full-year 2015 in the range of 4%-5% compared with 2014. Full-year adjusted EPS from continuing operations is expected to be in the range of $3.66 to $3.81 (reported $3.60 to $3.75.)
- Q4 results
Jan. 30, 2015, 7:04 AM
- Ingersoll-Rand (NYSE:IR): Q4 EPS of $0.82 beats by $0.12.
- Revenue of $3.24B (+4.5% Y/Y) beats by $50M.
Jan. 29, 2015, 5:30 PM
Jan. 22, 2015, 11:00 AM
- Ingersoll-Rand (IR +1.9%) has been designated as the "Official Power Tools of NASCAR" through a new multi-year partnership.
- "We know how important tool performance is in racing – if your tools perform, your vehicle performs," said John Evans, president of power tools at Ingersoll-Rand.
- As part of the new partnership, the company will be at the track each weekend providing expert tool support, service, new tool demonstrations for pit crews and will offer fans the opportunity to try tools first hand.
Jan. 2, 2015, 9:07 AM
- Ingersoll-Rand (NYSE:IR) has completed its purchase of Cameron International's (NYSE:CAM) centrifugal compression division.
- The unit makes oil and gas separation equipment, heaters and water processing systems.
- SEC Form 8-K
- Previously: Ingersoll-Rand to purchase Cameron unit for $850M (Aug. 18 2014)
Dec. 22, 2014, 7:35 AM
Dec. 9, 2014, 7:45 AM
- Ingersoll-Rand (NYSE:IR) has entered into an agreement to acquire Frigoblock, a manufacturer of transport refrigeration units in Europe, for €100M.
- The acquisition is expected to be accretive to EPS, EBITDA margins and ROIC in its first full year of operation and is estimated to close in the first half of 2015.
Nov. 24, 2014, 3:43 PM
- Twenty-two spinoffs have been completed in 2014, the most in a decade, and another 28 have been announced. Among the catalysts are activist investors, so Credit Suisse screened for companies with multiple business segments, slow growth, and stocks trading for lower multiples than peers, in other words, "good, quality companies that are struggling to grow."
- The list is heavy on big media names like Time Warner (NYSE:TWX) and Twenty-First Century Fox (NASDAQ:FOXA), big tech like Oracle (NYSE:ORCL), Symantec (NASDAQ:SYMC), and IBM, and big industry like Lockheed Martin (NYSE:LMT), Ingersoll-Rand (NYSE:IR), and Raytheon (NYSE:RTN), but just two financial names - Travelers (NYSE:TRV) and Torchmark (NYSE:TMK).
- The rest: MO, CA, WU, DPS, PBI, SJM, HRS, SWK, EMR, WLP, MAT, GE, SNA, LLL, ITW, STJ, PDCO, HPQ, DLPH, HAS, NAVI, GME, CBS, JNJ, SLB.
Oct. 24, 2014, 9:40 AM
- Ingersoll-Rand (IR) has lowered its profit outlooks to reflect expected costs associated with its new $1.1B debt offering.
- The company cut its fourth-quarter EPS from continuing operations outlook to a range of $0.63-$0.67 from $0.68-$0.72 cents. The FY 2014 outlook has been cut to a range of $3.12-$3.16 from $3.20-$3.24.
Oct. 22, 2014, 8:40 AM
- Net profit of $291.3M, or $1.07 per share, vs. $165.9M, or $0.56 per share, for the same period last year. EPS from continuing operations came in at $1.10 vs. $0.75 a year earlier.
- Approximately 2.6M shares were repurchased during the quarter for ~$160M, related to a $1.5B share repurchase program approved by the company's board of directors on February 5, 2014.
- The company expects revenues for full-year 2014 to increase approximately 4%, with FY EPS from continuing operations expected to be in the range of $3.17-$3.21.
- Q3 results
Oct. 22, 2014, 7:10 AM
- Ingersoll-Rand (NYSE:IR): Q3 EPS of $1.10 beats by $0.06.
- Revenue of $3.4B (+6.3% Y/Y) beats by $50M.
Oct. 21, 2014, 5:30 PM
Oct. 7, 2014, 10:12 AM
- Goldman Sachs upgrades Ingersoll-Rand (IR +0.6%) to Buy from Neutral citing recent underperformance of shares and the company's improved execution.
- The firm raises its PT for shares to $68 from $67.
Oct. 3, 2014, 8:36 AM
Ingersoll-Rand Plc is a diversified, global company that provides products, services and solutions to enhance the quality and comfort of air in homes and buildings, transport and protect food and perishables, secure homes and commercial properties. It operates through the two business segments:... More
Sector: Industrial Goods
Industry: Diversified Machinery
Country: United States
Other News & PR