Ingersoll Rand Inc. (NYSE:IR) Announces Quarterly Dividend of $0.02

Ingersoll Rand Inc. (NYSE:IR) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.02 per share by the industrial products company on Thursday, June 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%.

Ingersoll Rand has decreased its dividend by an average of 46.8% per year over the last three years. Ingersoll Rand has a payout ratio of 2.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ingersoll Rand to earn $3.38 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 2.4%.

Ingersoll Rand Stock Performance

NYSE:IR traded down $0.47 during trading hours on Thursday, reaching $92.03. The stock had a trading volume of 2,567,346 shares, compared to its average volume of 2,463,600. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The stock has a 50 day simple moving average of $91.54 and a 200 day simple moving average of $79.36. Ingersoll Rand has a 12-month low of $53.24 and a 12-month high of $96.17. The stock has a market cap of $37.13 billion, a P/E ratio of 48.68, a price-to-earnings-growth ratio of 3.16 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, research analysts forecast that Ingersoll Rand will post 3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IR. Cfra lifted their price target on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Citigroup lifted their price target on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. StockNews.com upgraded Ingersoll Rand from a “hold” rating to a “buy” rating in a research report on Sunday, April 7th. Finally, The Goldman Sachs Group lifted their price target on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Insiders Place Their Bets

In other news, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the sale, the insider now owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now directly owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 over the last 90 days. Insiders own 0.83% of the company’s stock.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.