Price Action Alert: Is Buying 52-Week Stock Like Ingersoll-Rand PLC a Winning Strategy?

Price Action Alert: Is Buying 52 Week Stock Like Ingersoll Rand PLC a Winning Strategy?

The stock of Ingersoll-Rand PLC (NYSE:IR) hit a new 52-week high and has $85.41 target or 21.00% above today’s $70.59 share price. The 7 months bullish chart indicates low risk for the $18.24 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $85.41 price target is reached, the company will be worth $3.83B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.67M shares traded hands. Ingersoll-Rand PLC (NYSE:IR) has risen 14.30% since April 5, 2016 and is uptrending. It has outperformed by 12.34% the S&P500.

Ingersoll-Rand PLC (NYSE:IR) Ratings Coverage

Out of 12 analysts covering Ingersoll-Rand Plc (NYSE:IR), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Ingersoll-Rand Plc has been the topic of 29 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock of Ingersoll-Rand PLC (NYSE:IR) has “Buy” rating given on Tuesday, April 19 by Citigroup. Nomura upgraded it to “Buy” rating and $68 target price in Monday, March 7 report. CLSA downgraded Ingersoll-Rand PLC (NYSE:IR) on Monday, April 4 to “Outperform” rating. As per Wednesday, July 13, the company rating was initiated by BMO Capital Markets. The firm has “Neutral” rating given on Monday, March 28 by Goldman Sachs. The stock of Ingersoll-Rand PLC (NYSE:IR) earned “Equal-Weight” rating by Barclays Capital on Monday, October 5. Stifel Nicolaus maintained Ingersoll-Rand PLC (NYSE:IR) rating on Wednesday, October 28. Stifel Nicolaus has “Buy” rating and $64 price target. The stock of Ingersoll-Rand PLC (NYSE:IR) earned “Buy” rating by Argus Research on Monday, August 3. As per Friday, September 9, the company rating was downgraded by KeyBanc Capital Markets. The company was maintained on Thursday, April 14 by Susquehanna.

According to Zacks Investment Research, “Ingersoll Rand Company is one of the leading providers of security and safety, climate control, industrial productivity and infrastructure products. In each of these markets, the company offers a diverse product portfolio that includes well-recognized industrial and commercial brands.”

Insitutional Activity: The institutional sentiment increased to 1.19 in 2016 Q2. Its up 0.41, from 0.78 in 2016Q1. The ratio improved, as 39 funds sold all Ingersoll-Rand PLC shares owned while 163 reduced positions. 71 funds bought stakes while 170 increased positions. They now own 194.24 million shares or 0.04% less from 194.32 million shares in 2016Q1.
Wellington Grp Inc Ltd Liability Partnership, a Massachusetts-based fund reported 1.54M shares. Moreover, Tiaa Cref Invest Mngmt Ltd Limited Liability Company has 0.13% invested in Ingersoll-Rand PLC (NYSE:IR) for 2.68M shares. Canada Pension Plan Board accumulated 0.02% or 91,761 shares. Adage Prns Gru Llc holds 0.12% or 668,383 shares in its portfolio. Moreover, Mathes has 1.31% invested in Ingersoll-Rand PLC (NYSE:IR) for 35,175 shares. Moreover, Tocqueville Asset Mngmt Ltd Partnership has 0% invested in Ingersoll-Rand PLC (NYSE:IR) for 4,250 shares. Amica Retiree Med Tru has 2,522 shares for 0.14% of their US portfolio. British Columbia Mgmt holds 0.26% of its portfolio in Ingersoll-Rand PLC (NYSE:IR) for 461,268 shares. Ghp Invest Advsrs Inc holds 0.09% of its portfolio in Ingersoll-Rand PLC (NYSE:IR) for 6,268 shares. Ubs Asset Mngmt Americas reported 1.70 million shares or 0.12% of all its holdings. Weatherly Asset Mngmt L P owns 10,043 shares or 0.65% of their US portfolio. Boys Arnold & holds 0.23% or 21,400 shares in its portfolio. Lord Abbett & Ltd Liability owns 1.17 million shares or 0.23% of their US portfolio. Covington Advsr Incorporated last reported 5,735 shares in the company. First Pacific Advsr Ltd Liability Company has 0.02% invested in the company for 38,050 shares.

Another recent and important Ingersoll-Rand PLC (NYSE:IR) news was published by Seekingalpha.com which published an article titled: “Ingersoll-Rand Plc (IR) Q3 2016 Results – Earnings Call Transcript” on October 26, 2016.

IR Company Profile

Ingersoll-Rand Public Limited Company, incorporated 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 Company’s business divisions include Climate and Industrial. The Firm is engaged 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.

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