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

Ingersoll Rand Inc. (NYSE:IR) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Investors 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 annualized dividend and a yield of 0.09%.

Ingersoll Rand has decreased its dividend by an average of 46.8% annually over the last three years. Ingersoll Rand has a dividend 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 Down 0.5 %

IR stock opened at $92.03 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The firm has a market cap of $37.13 billion, a PE ratio of 48.44, a P/E/G ratio of 3.22 and a beta of 1.44. Ingersoll Rand has a 12 month low of $53.24 and a 12 month high of $96.17. The firm has a 50 day simple moving average of $91.62 and a 200 day simple moving average of $79.45.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BNP Paribas assumed coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Citigroup increased their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Barclays increased their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now directly owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by insiders.

About Ingersoll Rand

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.