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Ingersoll-Rand plc (IR)

- NYSE
  • Thu, Jan. 29, 5:30 PM
  • Thu, Jan. 22, 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.
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  • Fri, Jan. 2, 9:07 AM
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  • Dec. 22, 2014, 7:35 AM
    • Ingersoll-Rand (NYSE:IR) will report FQ4 results on Jan. 30. The conference call is scheduled to begin at 10:00 a.m. ET.
    • Consensus view is EPS of $0.71 on revenues of $3.2B.
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  • 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.
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  • 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.
    | 18 Comments
  • 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.
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  • 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
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  • 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.
    • Press Release
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  • 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.
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  • Oct. 3, 2014, 8:36 AM
    • Ingersoll-Rand (NYSE:IR) will report Q3 results on Oct. 22. The conference call is scheduled to begin at 10:00 am ET.
    • Consensus view is EPS of $1.04 on revenues of $3.4B.
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  • Oct. 2, 2014, 10:02 AM
    • Ingersoll-Rand (NYSE:IR) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 1.81%
    • Payable Dec. 31; for shareholders of record Dec. 12; ex-div Dec. 10.
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  • Sep. 22, 2014, 8:56 AM
    • Ingersoll-Rand (NYSE:IR) has announced a new plan to swap its use of hydrofluorocarbons (HFCs) for hydrofluoroolefins (HFOs) with the aim of reducing its carbon footprint.
    • At the moment, HFOs are significantly more expensive than HFCs but Ingersoll-Rand CEO Mike Lamach expects their costs to fall as demand and production increase.
    • The move follows growing pressure on the refrigeration and air conditioning industries to stop the use of HFCs.
    | Comment!
  • Sep. 6, 2014, 8:43 AM
    • The "total" yield of a company combines the dividend yield and the buyback yield - that is the yield boost from reducing the total amount of shares outstanding. Together with S&P's Howard Silverblatt, Barron's puts together a list of the top 20 companies in the S&P 500 based on "total" yield.
    • While buybacks don't guarantee a strong stock - witness consistent buyback champs like IBM and Kohl's (NYSE:KSS) - Warren Buffett goes to bed at night praying for IBM's share price to go down so the company can buy back more stock for a given dollar amount (though The Oracle has said he doesn't expect this logic to win many fans).
    • The flip-side are those companies - financials and energy come to mind - who tend to buy back stock at high prices only to find themselves forced to reissue it at lower prices when times get tough. A consistent plan helps, and Travelers (NYSE:TRV), under CEO Jay Fishman, has been maybe the best example of this - halving the share count since the end of 2006.
    • ETFs? The Powershares Buyback Achievers Portfolio (NYSEARCA:PKW) gained 45.6% in 2013, 1,300 basis points better than the S&P 500. Since inception in 2006, it's up an annualized 9%, more than 200 basis points better than the S&P. A newcomer - the Cambria Shareholder Yield ETF (NYSEARCA:SYLD) - has beaten the S&P by about 250 basis points since its May 2013 inception.
    • The list (ranked in order of "total" yield): ADT, CAM, CF, MOS, MPC, VIAB, GLW, ITW, STX, IBM, NOC, CTL, TRV, VRSN, IR, CCE, KSS, NTAP, HES, DO.
    | 42 Comments
  • Aug. 19, 2014, 12:52 PM
    • Ingersoll-Rand (IR -0.8%) is downgraded to Neutral from Outperform with a $65 price target, down from $68, at Robert W. Baird, which is shifting to a more conservative stance as it recognizes IR's strong outperformance over the past two years.
    • While appreciating the long-term strategic fit of Cameron's centrifugal compression business, Baird says a shift away from share buybacks towards M&A raises the risk profile of future earnings growth.
    • From an execution standpoint, the firm believes 2015 sets up as a more difficult year given deal integration, tougher comps in ThermoKing, and stubbornly slow Institutional end markets.
    | Comment!
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Company Description
Ingersoll-Rand PLC is a diversified 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, and increase industrial productivity and efficiency.