Ingersoll Rand’s Strong First-Quarter Results Take the Back Seat to Break-Up Announcement
Narrow-moat rated Ingersoll Rand announced both its first-quarter results and the pending combination of its industrial segment with publicly traded Gardner Denver. The latter announcement confirms an earlier report by The Wall Street Journal, which we discussed in our April 29 analyst note.Ingersoll Rand’s industrial segment ($3.3 billion sales and $534 million adjusted EBITDA in 2018) will be spun-off tax-free to shareholders and will then immediately merge with Gardner Denver. This newly for...
Ingersoll-Rand provides products, services and solutions to enhance air in homes and buildings, transport and protect food. Co.'s segments are: Climate. which includes Trane® and American Standard® Heating & Air Conditioning, providing heating, ventilation and air conditioning systems, and commercial and residential building services, parts, support and controls, energy services and building automation as well as transport temperature control solutions; and Industrial, which includes compressed air and gas systems and services, power tools, material handling systems, ARO® fluid management equipment, as well as Club Car ® golf, utility and rough terrain vehicles.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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