Ingersoll-Rand PLC (NYSE:IR) announced a quarterly dividend on Wednesday, February 7th, RTT News reports. Shareholders of record on Friday, March 9th will be given a dividend of 0.45 per share by the industrial products company on Friday, March 30th. This represents a $1.80 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 8th.
Ingersoll-Rand has raised its dividend payment by an average of 19.3% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Ingersoll-Rand has a dividend payout ratio of 39.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ingersoll-Rand to earn $5.75 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 31.3%.
Ingersoll-Rand (NYSE:IR) traded down $0.49 during trading on Wednesday, reaching $89.77. The company’s stock had a trading volume of 285,731 shares, compared to its average volume of 1,883,855. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. The stock has a market cap of $22,717.44, a price-to-earnings ratio of 20.11, a PEG ratio of 1.95 and a beta of 1.33. Ingersoll-Rand has a 1-year low of $77.26 and a 1-year high of $97.67.
Ingersoll-Rand (NYSE:IR) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. sell-side analysts forecast that Ingersoll-Rand will post 5.17 earnings per share for the current fiscal year.
In related news, Chairman Michael W. Lamach sold 210,508 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total transaction of $18,583,646.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jared L. Cohon sold 2,350 shares of Ingersoll-Rand stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total value of $217,140.00. Following the completion of the transaction, the director now owns 25,766 shares of the company’s stock, valued at approximately $2,380,778.40. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.
Several research analysts recently commented on IR shares. Robert W. Baird reissued a “hold” rating on shares of Ingersoll-Rand in a research note on Friday, November 17th. Royal Bank of Canada cut their target price on Ingersoll-Rand from $93.00 to $91.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. BMO Capital Markets raised their target price on Ingersoll-Rand to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Monday, January 22nd. Finally, Stifel Nicolaus cut their target price on Ingersoll-Rand from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $102.92.
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Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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