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

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.02 per share by the industrial products company on Thursday, March 27th. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th.

Ingersoll Rand has raised its dividend payment by an average of 58.7% per year over the last three years. Ingersoll Rand has a dividend payout ratio of 2.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ingersoll Rand to earn $3.31 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 IR traded down $6.76 during midday trading on Friday, hitting $85.79. The company's stock had a trading volume of 7,441,849 shares, compared to its average volume of 2,111,534. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a one year low of $83.72 and a one year high of $106.03. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 41.85, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. The company's fifty day simple moving average is $92.75 and its two-hundred day simple moving average is $95.16.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 13.01% and a net margin of 11.72%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts expect that Ingersoll Rand will post 3.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus lowered their price objective on Ingersoll Rand from $107.00 to $100.00 and set a "hold" rating for the company in a research report on Friday, January 24th. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a "buy" rating and a $124.00 price objective on the stock. Citigroup reduced their price objective on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.92.

Ingersoll Rand Company Profile

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.