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

Ingersoll Rand Inc. (NYSE:IR) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Thursday, November 14th will be given a dividend of 0.02 per share by the industrial products company on Thursday, December 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%.

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 $3.44 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 Stock Performance

IR stock opened at $95.93 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The firm has a market cap of $38.70 billion, a PE ratio of 47.73, a P/E/G ratio of 2.72 and a beta of 1.42. The business has a 50 day moving average of $94.60 and a 200-day moving average of $93.29. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $102.74.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. As a group, sell-side analysts expect that Ingersoll Rand will post 3.22 earnings per share for the current year.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on IR. Cfra boosted their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Stifel Nicolaus boosted their target price on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI cut their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Robert W. Baird lifted their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

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.