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

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) 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 annualized dividend and a dividend yield of 0.09%.

Ingersoll Rand has decreased its dividend payment 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. Research 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 Price Performance

Shares of NYSE:IR traded down $0.47 on Thursday, hitting $92.03. The company had a trading volume of 2,567,215 shares, compared to its average volume of 2,463,601. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Ingersoll Rand has a 52-week low of $53.24 and a 52-week high of $96.17. The business has a 50 day moving average of $91.62 and a 200 day moving average of $79.45. The company has a market cap of $37.13 billion, a PE ratio of 48.44, a PEG ratio of 3.16 and a beta of 1.44.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. As a group, equities analysts anticipate that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew R. Schiesl sold 10,421 shares of the firm'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 sale, the insider now owns 48,904 shares of the company's stock, valued at approximately $4,398,914.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Andrew R. Schiesl sold 10,421 shares of Ingersoll Rand 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 transaction, the insider now directly owns 48,904 shares in the company, valued at approximately $4,398,914.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction 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 transaction, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,011 shares of company stock valued at $26,374,789. Insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

IR has been the topic of a number of research reports. Barclays raised their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Cfra raised their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, February 16th. Evercore ISI downgraded Ingersoll Rand from an "outperform" rating to an "in-line" rating and raised their price objective for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. BNP Paribas initiated coverage on Ingersoll Rand in a report on Tuesday, March 12th. They issued a "neutral" rating and a $92.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.73.

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.