Ingersoll-Rand PLC (Ireland) (NYSE:IR) announced a quarterly dividend on Friday, August 4th, RTT News reports. Stockholders of record on Friday, September 8th will be given a dividend of 0.45 per share by the industrial products company on Friday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. This is an increase from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40.
Ingersoll-Rand PLC (Ireland) has increased its dividend payment by an average of 17.4% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Ingersoll-Rand PLC (Ireland) has a payout ratio of 39.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ingersoll-Rand PLC (Ireland) to earn $5.12 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 35.2%.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 88.18 on Friday. The firm has a market capitalization of $22.37 billion, a P/E ratio of 21.89 and a beta of 1.31. Ingersoll-Rand PLC has a 1-year low of $62.40 and a 1-year high of $94.39. The stock’s 50 day moving average is $91.09 and its 200 day moving average is $85.26.
Ingersoll-Rand PLC (Ireland) (NYSE:IR) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.03. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.78 billion. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. Equities analysts predict that Ingersoll-Rand PLC will post $4.54 earnings per share for the current year.
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A number of research analysts recently commented on IR shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $93.00 target price (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, July 27th. Wolfe Research started coverage on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. UBS AG set a $97.00 target price on shares of Ingersoll-Rand PLC (Ireland) and gave the company a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research downgraded shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $87.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $97.43.
In other Ingersoll-Rand PLC (Ireland) news, EVP Robert Zafari sold 1,483 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $89.59, for a total transaction of $132,861.97. Following the transaction, the executive vice president now directly owns 66,944 shares of the company’s stock, valued at approximately $5,997,512.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul A. Camuti sold 3,500 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $89.64, for a total transaction of $313,740.00. Following the transaction, the insider now directly owns 61,519 shares in the company, valued at $5,514,563.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,943 shares of company stock worth $1,072,306 over the last three months. 0.65% of the stock is currently owned by insiders.
About Ingersoll-Rand PLC (Ireland)
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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