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

Ingersoll Rand Inc. (NYSE:IR) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors 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%.

Ingersoll Rand has raised its dividend by an average of 58.7% annually over the last three years. Ingersoll Rand has a payout ratio of 2.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.9 %

Shares of NYSE IR opened at $91.38 on Thursday. Ingersoll Rand has a 1-year low of $83.72 and a 1-year high of $106.03. The company has a 50-day moving average of $93.29 and a two-hundred day moving average of $95.29. The company has a market cap of $36.83 billion, a PE ratio of 44.58, a P/E/G ratio of 3.66 and a beta of 1.43. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Analysts Set New Price Targets

IR has been the topic of several research reports. Citigroup reduced their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their price target on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company reduced 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. UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.92.

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.