Ingersoll-Rand’s Target, Estimates Raised at Goldman Sachs (IR)

Climate control and security systems maker Ingersoll-Rand PLC ( IR ) saw its earnings estimates and price target boosted on Thursday by analysts at Goldman Sachs. The firm said it now expects IR shares, which had closed at $39.61 on Wednesday, to reach $45. Goldman also lifted its earnings estimates, citing positive sentiment following the company’s recent analyst meeting. The firm currently rates the stock as “Neutral.” Ingersoll-Rand shares were mostly flat in premarket trading Thursday. The Bottom Line We had removed shares of IR from our “recommended” list back Aug.6, 2008, when the stock traded at $36.69. The company has a .71% dividend yield, based on last night’s closing stock price of $39.61. The company does have technical support in the $35 price area. If the shares can continue to trend higher, we see overhead resistance around the $43 price level. We would remain on the sidelines. Ingersoll-Rand PLC ( IR ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Ingersoll-Rand’s Target, Estimates Raised at Goldman Sachs (IR)

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