Ingersoll Rand Inc. (NYSE:IR – Get Free Report) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Investors 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 yield of 0.08%.
Ingersoll Rand has a dividend payout ratio of 2.2% meaning its dividend is sufficiently covered by earnings. 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
Ingersoll Rand stock traded down $0.46 during midday trading on Thursday, hitting $95.93. 1,841,943 shares of the company’s stock were exchanged, compared to its average volume of 2,543,565. The firm’s 50 day simple moving average is $94.60 and its 200 day simple moving average is $93.29. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $102.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The stock has a market cap of $38.70 billion, a price-to-earnings ratio of 47.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42.
Ingersoll Rand (NYSE:IR – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Equities research analysts predict that Ingersoll Rand will post 3.22 EPS for the current year.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Evercore ISI reduced their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird raised their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Morgan Stanley assumed coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.17.
Insiders Place Their Bets
In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock valued at $7,108,005 over the last quarter. Company insiders own 0.68% of the company’s stock.
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.