JP Morgan Cuts Rating On Ingersoll-Rand plc (Ireland) (IR) To “Neutral”

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Ingersoll-Rand plc (Ireland) (NYSE:IR).

Equity analyst Wolfe Research added IR to its research portfolio by announcing an initial rating of “Peer Perform”.

The company is so far trading down by 1.67%% since yesterday’s close of 90.46. Ingersoll-Rand plc (Ireland) recently announced a dividend to be paid on Friday the 29th of September 2017. The dividend payment will be $0.450 per share for the quarter or $1.80 annualized. This dividend amount will represent a yield of $2.01. The ex-dividend date will be on Thursday the 7th of September 2017.

Shares last traded at $88.95 a bit higher than the 50 day moving average which is $86.58 and which is just over the 200 day moving average of $86.84. The 50 day moving average went up by +2.74% whereas the 200 day average was up by +2.42%.

Ingersoll-Rand Public Limited Company, launched on April 1, 2009, provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Business’s business segments include Climate and Industrial. The Company is involved in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, Thermo King, American Standard, ARO and Club Car..

Ingersoll-Rand plc (Ireland) currently has a P/E ratio of 22.08 and the market cap of the company is 22.56B. As of the last earnings report the EPS was $4.03 and is expected to be $4.54 for the current year with 253,667,000 shares currently outstanding. Next quarter’s EPS is expected be $1.06 with next year’s EPS projected to be $5.15.

Traders are a little more bearish on Ingersoll-Rand plc (Ireland) of late as evidenced by the increase in short interest. The firm recorded a rise in short interest between August 15, 2017 and August 31, 2017 of 16.15%. Short shares increased from 3,102,521 to 3,603,589 over that timeframe. With short interest at 3,603,589 and short average daily volume at 1,389,243, days to cover is 3.0 and the percentage of shorted shares was 0.01% on August 31.