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. 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% 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 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 Trading Down 0.5 %

IR stock traded down $0.47 during mid-day trading on Thursday, reaching $92.03. 2,567,346 shares of the stock traded hands, compared to its average volume of 2,463,600. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Ingersoll Rand has a 52-week low of $53.24 and a 52-week high of $96.17. The company has a market cap of $37.13 billion, a P/E ratio of 48.68, a P/E/G ratio of 3.16 and a beta of 1.44. The stock’s fifty day moving average is $91.54 and its 200-day moving average is $79.36.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, sell-side analysts expect that Ingersoll Rand will post 3.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares in the company, 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 valued at $26,374,789. 0.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IR has been the topic of several analyst reports. Barclays increased their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. UBS Group increased their price target on Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a report on Monday, January 29th. Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price objective for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Finally, StockNews.com upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a research note on Sunday, April 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.73.

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.