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

Ingersoll Rand Inc. (NYSE:IR) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.02 per share by the industrial products company on Thursday, March 27th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%.

Ingersoll Rand has raised its dividend payment by an average of 58.7% per year over the last three years. Ingersoll Rand has a dividend payout ratio of 2.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Ingersoll Rand to earn $3.31 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 0.9 %

Shares of IR stock traded down $0.79 during trading on Wednesday, reaching $91.38. The company’s stock had a trading volume of 2,049,561 shares, compared to its average volume of 2,273,363. Ingersoll Rand has a one year low of $83.72 and a one year high of $106.03. The business has a fifty day moving average price of $93.54 and a 200-day moving average price of $95.32. The company has a market cap of $36.83 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup decreased their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays dropped their price objective on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird decreased their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, Stifel Nicolaus lowered their target price on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $105.92.

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.