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.
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.
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.
Aug. 18, 2014, 6:55 AM
Aug. 8, 2014, 12:10 PM
Jul. 22, 2014, 7:04 AM
Jul. 21, 2014, 5:30 PM
Apr. 23, 2014, 9:25 AM
- Ingersoll-Rand (IR) net profit drops 10% to $79M, hurt by restructuring costs and the spin-off of the company's commercial and residential security operations in December.
- Operating margin increased to 5.7% from 4.5%, mainly due to improved volume, productivity and pricing.
- Expects adjusted Q2 EPS of $1.09-1.13 vs consensus of $1.06, and revenue growth of 4-5% vs analyst forecasts for a fall of 9.9% to $3.54B.
- Affirmed 2014 outlook, citing the prospect of moderate growth in global construction and slow growth in industrial markets.
- Shares are +1.7% premarket. (PR)
Apr. 23, 2014, 7:03 AM
Apr. 23, 2014, 12:05 AM| Comment!
Apr. 22, 2014, 5:30 PM| Comment!
Apr. 2, 2014, 8:45 AM
Feb. 11, 2014, 8:12 AM
- Ingersoll-Rand's (IR) net profit drops to $47.6M from $235.6M, hurt by $102.2M in spinoff costs and restructuring expenses.
- Net income from continuing operations more than halves to $77.7M.
- Industrial segment revenue edged up less than 1% to $771.4M; climate +7.8% to $2.33B.
- Expects Q1 adjusted EPS of $0.23-0.28 vs consensus of $0.34 and revenue growth of 2-3% vs a decline of 12%.
- Forecasts 2014 EPS of $3.05-3.20 vs $3.20 and revenue growth of 3-4% vs 5%.
- Ingersoll-Rand intends to complete a $2B stock buyback program in Q1 and then begin a new $1.5B scheme. (PR)
Feb. 11, 2014, 7:03 AM
Feb. 11, 2014, 12:05 AM
Feb. 10, 2014, 5:30 PM
IR vs. ETF Alternatives
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.
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