How Cool Is Ingersoll Rand?

Last week was more or less a week of good news on the industrial side of the North American economy. Companies like General Electric (NYSE: GE), Honeywell (NYSE: HON), Caterpillar (NYSE: CAT), and Dover (NYSE: DOV) all reported earnings that were generally strong and encouraging. 

Among that group was Ingersoll Rand (NYSE: IR), whose earnings and guidance were likewise solid and above expectations. I do wonder, though, whether this is really good news in the grand scheme of things. After all, Ingersoll Rand has a reputation for being a later-cycle company. So, if Ingersoll Rand is starting to see stronger business, does that mean we have already seen the best of what has been a weak recovery?

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