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

Ingersoll Rand Inc. (NYSE:IR) declared a quarterly dividend on Wednesday, February 11th. Stockholders of record on Wednesday, March 4th will be given a dividend of 0.02 per share by the industrial products company on Thursday, March 26th. This represents a c) annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, March 4th.

Ingersoll Rand has a payout ratio of 2.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ingersoll Rand to earn $3.59 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 2.2%.

Ingersoll Rand Stock Performance

IR opened at $96.75 on Thursday. The stock has a market cap of $38.22 billion, a P/E ratio of 71.66, a P/E/G ratio of 6.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51. The firm has a fifty day moving average price of $85.13 and a 200 day moving average price of $81.29. Ingersoll Rand has a 1 year low of $65.61 and a 1 year high of $100.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Wells Fargo & Company upped their target price on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Finally, Citigroup boosted their price target on shares of Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Hold” and a consensus price target of $92.13.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.