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

Ingersoll Rand Inc. (NYSE:IR) declared a quarterly dividend on Friday, July 26th, RTT News reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.02 per share by the industrial products company on Thursday, September 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%.

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 $3.43 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 2.3%.

Ingersoll Rand Trading Up 1.8 %

Shares of NYSE IR opened at $98.70 on Friday. Ingersoll Rand has a 1-year low of $59.20 and a 1-year high of $101.30. The company has a market cap of $39.82 billion, a PE ratio of 49.10, a P/E/G ratio of 2.84 and a beta of 1.45. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $93.62 and a two-hundred day moving average of $90.22.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. As a group, equities analysts expect that Ingersoll Rand will post 3.17 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares in the company, valued at $8,843,336.37. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Barclays upped their target price on shares of Ingersoll Rand from $104.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target for the company. Citigroup upped their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.17.

Ingersoll Rand announced that its board has authorized a share buyback program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.