IR has been on my watch list for several months now and I finally took a position yesterday. This was timely because I also had a 2 Trane system installed at home yesterday as well. The equipment is extremely high quality. I especially like the touch screen programmable thermostat that is removable and can be programmed from the comfort of ones chair. The acquisition of Trane is going to pay off big………$$$.
Excluding special items, IR's continuing operations produced profit of $1.03 a share. Analysts had expected 88 cents a share, according to a FactSet Research survey. Ingersoll-Rand also affirmed its 2008 full-year forecast of $3.80 to $3.90 a share of earnings from continuing operations, excluding one-time items.
IR jumped nearly 8% in premarket trading to $38.80.