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

Ingersoll Rand Inc. (NYSE:IR) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend 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 dividend payout ratio of 2.1% indicating that its dividend is sufficiently covered by earnings. 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

NYSE:IR opened at $91.38 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand has a one year low of $83.72 and a one year high of $106.03. The company has a fifty day moving average price of $93.29 and a 200 day moving average price of $95.29. The stock has a market cap of $36.83 billion, a P/E ratio of 44.58, a PEG ratio of 3.66 and a beta of 1.43.

Analysts Set New Price Targets

IR has been the subject of several research reports. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, January 24th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. 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. 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 research note on Thursday, December 12th. Finally, Wells Fargo & Company decreased 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 report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.