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

Ingersoll Rand Inc. (NYSE:IRGet Free Report) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Shareholders of record on Thursday, May 16th will be paid 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 dividend yield of 0.09%. The ex-dividend date is Wednesday, May 15th.

Ingersoll Rand has a payout ratio of 2.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ingersoll Rand to earn $3.40 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 Up 0.3 %

NYSE:IR opened at $91.26 on Monday. The stock’s fifty day moving average price is $91.91 and its two-hundred day moving average price is $81.72. The company has a market cap of $36.82 billion, a price-to-earnings ratio of 45.40, a P/E/G ratio of 2.99 and a beta of 1.40. Ingersoll Rand has a 52-week low of $56.49 and a 52-week high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32.

Ingersoll Rand (NYSE:IRGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, analysts anticipate that Ingersoll Rand will post 3.14 EPS for the current year.

Insider Activity at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the sale, the insider now directly owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now directly owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand declared that its Board of Directors has initiated a share buyback plan on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays lowered their target price on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. BNP Paribas began coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective for the company. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group upped their price target on Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, 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 report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.82.

View Our Latest Research Report on IR

About Ingersoll Rand

(Get Free Report)

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.

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Dividend History for Ingersoll Rand (NYSE:IR)

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