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

Ingersoll Rand Inc. (NYSE:IR) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Wednesday, March 5th will be given a dividend of 0.02 per share by the industrial products company on Thursday, March 27th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%.

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. 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 Stock Performance

IR traded down $0.79 during trading hours on Wednesday, hitting $91.38. The stock had a trading volume of 2,049,561 shares, compared to its average volume of 2,273,363. The stock has a market cap of $36.83 billion, a PE ratio of 44.58, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. Ingersoll Rand has a 1 year low of $83.72 and a 1 year high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $93.54 and its 200 day simple moving average is $95.32.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IR shares. UBS Group began coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus reduced their price target on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Finally, Barclays reduced their target price on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.