JPMorgan Downgrades Ingersoll-Rand to “Neutral” on Valuation Call (IR)
JPMorgan analysts downgraded climate control and security products maker Ingersoll-Rand plc (IR) on Wednesday due to a valuation call based on its price target.
The analysts downgraded IR from “Overweight” to “Neutral” and see shares reaching $53. This valuation suggests a 4% downside to Tuesday’s closing price of $55.38.
Ingersoll-Rand shares were down 86 cents, or -1.58%, during Wednesday morning trading. The stock is up +30.8% over the past year.
The Bottom Line
Shares of Ingersoll-Rand (IR) have a dividend yield of 1.54% based on Wednesday’s intraday trading price of $54.52 and the company’s annualized dividend payout of 84 cents per share.
Ingersoll-Rand plc (IR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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