Ingersoll Rand Inc. (IR) to Issue Quarterly Dividend of $0.02 on June 6th

Ingersoll Rand Inc. (NYSE:IR) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Stockholders 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 dividend 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% meaning 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 Trading Up 1.6 %

NYSE IR opened at $93.50 on Friday. Ingersoll Rand has a one year low of $54.54 and a one year high of $96.17. The company has a 50-day simple moving average of $91.70 and a 200-day simple moving average of $79.66. 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 firm has a market capitalization of $37.72 billion, a PE ratio of 49.21, a price-to-earnings-growth ratio of 3.21 and a beta of 1.44.

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

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction that occurred 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 owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. 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 ninety days. Insiders own 0.83% of the company’s stock.

Ingersoll Rand announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on IR. Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $81.00 to $89.00 in a research report on Tuesday, February 20th. Cfra lifted their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. The Goldman Sachs Group upped their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Barclays upped 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. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $92.73.

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.