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Ingersoll-Rand plc (IR)

- NYSE
  • Dec. 9, 2013, 11:38 AM
    • Ingersoll-Rand (IR) catches a downgrade to Neutral from Buy at MKM Partners.
    • "With expectations that recovery is upon us and the Allegion spin complete, valuation appears fair versus other premium multi-industrials and the IR-specific major catalysts are behind us," analyst Joshua Pokrzywinski says, adding that he isn't "convinced that 2014 will be a strong recovery year for institutional markets where IR's larger HVAC offering is more prominent."
    • Price target is $58.
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  • Dec. 2, 2013, 12:45 PM
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  • Oct. 18, 2013, 10:17 AM
    • Ingersoll-Rand (IR +5.5%) is strong in morning trading after putting up a solid quarter.
    • "We realized revenue growth and earnings per share above our guidance, and continued to deliver excellent operating leverage in the quarter," CEO Michael Lamach says.
    • U.S. revenues +5%, international +3%.
    • Adjusted operating margin rose 140 bps from Q3 2012.
    • Climate Solutions revenue +4% Y/Y. Bookings +7%. (PR)
    • Outlook: FY13 adjusted EPS of $3.55-3.60 on sales of $14.3-14.4B. Q4 adjusted EPS $0.85-0.90 on revenue of $3.5-3.6B. Consensus for the full year is $3.59/share on revenue of $14.38B and for Q4, the Street sees $0.94/share on $3.6B in sales.
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  • Jun. 18, 2013, 12:08 PM
    Ingersoll-Rand (IR +1.9%) completes its $1.55B debt offering consisting of 3 tranches; $350M in aggregate principal amount of 2.875% notes due in 2019, $700M of 4.25% notes due in 2023, and $500M of 5.75% notes due in 2043. The company plans to use the funds to retire existing senior debt and to fund expenses related to its Allegion spinoff.
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  • Feb. 1, 2013, 3:17 PM
    Ingersoll-Rand (IR +2%) moves up today on a solid Q4 earnings beat, despite posting flat sales growth Y/Y. Net income actually shrank 2.7% as revenue fell on weaker contributions from its climate solutions segment. For FY13, the company forecasts earnings in line with consensus, with moderate growth in its industrial markets and across most of its businesses in Asia and Latin America. However, the company warns of softness in other areas, include refrigerated transportation and North American non-residential construction. Check out the earnings call here: Earnings Call Transcript.
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  • Dec. 7, 2012, 3:22 PM
    Ingersoll-Rand (IR +1.3%) moves up after Credit Suisse recommended the shares today ahead of the results from its strategic review. The firm says expectations aren't high and believes the update will be an upside surprise. CS currently rates the shares Outperform and ups its price target to $51 from $47.
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  • Feb. 13, 2012, 1:04 PM
    Ingersoll-Rand (IR +2.8%) moves up after Bernstein raises its rating to Outperform, citing optimism for a 2013 margin recovery as construction markets begin to stabilize.
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  • Feb. 8, 2012, 12:12 PM
    Ingersoll-Rand (IR +1.8%) gains despite a mixed Q4 report, beating on EPS but missing on revenue. Earnings rose 14% Y/Y largely due to a tax benefit and stronger margins, but sales declined overall at most of its main businesses. The company also projects FY12 to be below Street expectations, now seeing $2.90 - $3.10 per share on revenue of around $14B, below EPS estimates of $3.12 on $14.6B in revenue.
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  • Oct. 20, 2011, 12:33 PM
    Ingersoll-Rand (IR -7.8%) trades lower after it beat previously lowered Q3 estimates, but sales slumped 63% Y/Y, largely due to continued weakness in the U.S. housing market. The company also cuts FY11 guidance - for the second time this month - citing deteriorating business conditions in its residential-products line, which includes Trane and American Standard brands of heating and air-conditioning equipment and Schlage door locks.
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  • Sep. 30, 2011, 10:43 AM
    Ingersoll-Rand (IR -16.8%) declines sharply thanks to its Q3 warning. Wedbush is reiterating a Market Perform, believing currency effects will add to existing headwinds in hurting Q4 results. It also thinks the "continued underperformance" of Ingersoll's Residential Solutions business brings its 2013 EPS target into question. Rival LII is down 7.6%.
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  • Sep. 30, 2011, 7:20 AM
    Ingersoll-Rand (IR) revises its estimate for Q3 APS downward to $0.77-$0.80, from previous guidance of $0.85-$0.95, including a $0.04 impact from Hussman operations. The company now sees Q3 revenue in a range of $3.9B-$3.95B, from prior guidance of $4.05B-$4.15B. Shares -5.5% premarket.
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  • Sep. 16, 2011, 10:11 AM
    Reuters reports United Technologies (UTX) is arranging financing "in the double-digit billions" for a major acquisition. Potential targets: Tyco TYC +7.5%, Textron TXT +7.4%, Rockwell Collins COL +6.5%, Goodrich GR +3%, Ingersoll-Rand IR +2.1%.
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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.