Ingersoll-Rand PLC (Ireland) (IR) Plans Quarterly Dividend of $0.45
Ingersoll-Rand PLC (Ireland) (NYSE:IR) declared a quarterly dividend on Tuesday, October 3rd, RTT News reports. Shareholders of record on Friday, December 8th will be paid a dividend of 0.45 per share by the industrial products company on Friday, December 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.00%.
Ingersoll-Rand PLC (Ireland) has increased its dividend by an average of 17.4% annually over the last three years and has increased its dividend every year for the last 6 years. Ingersoll-Rand PLC (Ireland) has a dividend payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ingersoll-Rand PLC (Ireland) to earn $5.11 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 35.2%.
Shares of Ingersoll-Rand PLC (IR) opened at 90.14 on Wednesday. Ingersoll-Rand PLC has a 12 month low of $63.87 and a 12 month high of $94.39. The company has a market cap of $22.87 billion, a P/E ratio of 22.38 and a beta of 1.33. The firm has a 50-day moving average price of $87.24 and a 200 day moving average price of $87.52.
Ingersoll-Rand PLC (Ireland) (NYSE:IR) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.03. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Ingersoll-Rand PLC (Ireland)’s revenue was up 4.4% on a year-over-year basis. Equities analysts predict that Ingersoll-Rand PLC will post $4.54 earnings per share for the current year.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Credit Suisse Group reiterated a “buy” rating and issued a $105.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. Wolfe Research assumed coverage on Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. UBS AG set a $97.00 price target on Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $93.00 price objective (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $99.22.
In other news, EVP Didier P. Teirlinck sold 26,174 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $86.10, for a total value of $2,253,581.40. Following the transaction, the executive vice president now directly owns 131,129 shares in the company, valued at $11,290,206.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $88.03, for a total transaction of $220,075.00. Following the completion of the transaction, the director now owns 65,932 shares in the company, valued at $5,803,993.96. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
Ingersoll-Rand PLC (Ireland) Company Profile
Ingersoll-Rand Public Limited Company 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 segments include Climate and Industrial. It 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, American Standard, ARO and Club Car.
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