Ingersoll Rand (NYSE:IR – Get Free Report) announced its quarterly earnings results on Thursday. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17, FiscalAI reports. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share.
Ingersoll Rand Trading Up 5.9%
IR stock traded up $4.46 during midday trading on Thursday, hitting $79.91. The stock had a trading volume of 8,449,400 shares, compared to its average volume of 4,275,196. The company’s 50-day moving average price is $76.29 and its 200 day moving average price is $81.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.62 and a quick ratio of 1.15. The firm has a market cap of $31.00 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 3.13 and a beta of 1.15. Ingersoll Rand has a 12-month low of $68.07 and a 12-month high of $100.96.
Ingersoll Rand Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, November 12th. Ingersoll Rand’s payout ratio is presently 3.29%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on IR. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $103.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Citigroup reaffirmed a “buy” rating on shares of Ingersoll Rand in a report on Monday, October 12th. Stifel Nicolaus set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, October 19th. Morgan Stanley set a $87.00 target price on Ingersoll Rand in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, October 19th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.
Check Out Our Latest Stock Report on IR
Insider Buying and Selling at Ingersoll Rand
In other Ingersoll Rand news, Director Aurobind Satpathy acquired 11,538 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were acquired at an average price of $86.68 per share, for a total transaction of $1,000,113.84. Following the completion of the acquisition, the director directly owned 11,538 shares of the company’s stock, valued at $1,000,113.84. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.
About Ingersoll Rand
Ingersoll Rand Inc (NYSE:IR) is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.
Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.
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