Ingersoll Rand (NYSE:IR) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• Ingersoll Rand beat quarterly earnings expectations: EPS was $1.07 versus the $0.90 consensus, while revenue reached $2.06 billion, up 5.6% year over year and slightly above estimates.
• Shares rose to $79.91 in midday trading following the results. The company declared a quarterly dividend of $0.02, equivalent to an annualized yield of 0.1%.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $95 price target; director Aurobind Satpathy also purchased approximately $1 million of company stock.

Ingersoll Rand (NYSE:IR - Get Free Report) posted its earnings results on Thursday. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.17, FiscalAI reports. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the company earned $0.86 EPS. Ingersoll Rand's revenue was up 5.6% on a year-over-year basis.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $4.46 during midday trading on Thursday, hitting $79.91. The company had a trading volume of 8,449,400 shares, compared to its average volume of 4,275,196. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40. Ingersoll Rand has a twelve month low of $68.07 and a twelve month high of $100.96. The business has a 50-day simple moving average of $76.29 and a two-hundred day simple moving average of $81.28. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 3.13 and a beta of 1.15.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is 3.29%.

Insiders Place Their Bets

In related news, Director Aurobind Satpathy bought 11,538 shares of the stock in a transaction on Monday, August 3rd. The shares were bought at an average cost of $86.68 per share, for a total transaction of $1,000,113.84. Following the completion of the transaction, the director owned 11,538 shares of the company's stock, valued at $1,000,113.84. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

IR has been the subject of a number of research reports. Citigroup restated a "buy" rating on shares of Ingersoll Rand in a report on Monday, October 12th. Morgan Stanley set a $87.00 price target on Ingersoll Rand in a research note on Monday, August 10th. Robert W. Baird lifted their price target on Ingersoll Rand from $103.00 to $109.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Wall Street Zen cut Ingersoll Rand from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Stifel Nicolaus set a $93.00 price objective on Ingersoll Rand in a report on Monday, October 19th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and an average price target of $95.00.

Ingersoll Rand Company Profile

Ingersoll Rand Inc NYSE: IR is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.

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