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

Ingersoll Rand Inc. (NYSE:IR) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Stockholders 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%.

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% indicating that its dividend is sufficiently covered by earnings. 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 %

Shares of Ingersoll Rand stock opened at $93.50 on Friday. The firm has a 50-day moving average of $91.70 and a 200-day moving average of $79.66. The stock has a market cap of $37.72 billion, a PE ratio of 49.21, a PEG ratio of 3.21 and a beta of 1.44. Ingersoll Rand has a 52-week low of $54.54 and a 52-week high of $96.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. As a group, sell-side analysts forecast that Ingersoll Rand will post 3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Thursday. UBS Group upped their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. The Goldman Sachs Group increased their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, BNP Paribas started coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Insider Activity

In other news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $3,131,100.00. Following the completion of the transaction, the insider now directly 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 293,011 shares of company stock valued at $26,374,789 over the last quarter. 0.83% of the stock is owned by company insiders.

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

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.