Fintel reports that on May 9, 2023, Evercore ISI Group upgraded their outlook for Ingersoll-Rand (NYSE:IR) from In-Line to Outperform .
Analyst Price Forecast Suggests 7.89% Upside
As of April 24, 2023, the average one-year price target for Ingersoll-Rand is 63.59. The forecasts range from a low of 56.56 to a high of $71.40. The average price target represents an increase of 7.89% from its latest reported closing price of 58.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ingersoll-Rand is 6,250MM, an increase of 0.67%. The projected annual non-GAAP EPS is 2.54.
Ingersoll-Rand Declares $0.02 Dividend
On May 2, 2023 the company declared a regular quarterly dividend of $0.02 per share ($0.08 annualized). Shareholders of record as of May 24, 2023 will receive the payment on June 22, 2023. Previously, the company paid $0.02 per share.
At the current share price of $58.94 / share, the stock's dividend yield is 0.14%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.22%, the lowest has been 0.13%, and the highest has been 0.42%. The standard deviation of yields is 0.07 (n=235).
The current dividend yield is 1.24 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 1394 funds or institutions reporting positions in Ingersoll-Rand. This is an increase of 54 owner(s) or 4.03% in the last quarter. Average portfolio weight of all funds dedicated to IR is 0.27%, a decrease of 0.27%. Total shares owned by institutions decreased in the last three months by 4.74% to 473,763K shares. 
The put/call ratio of IR is 0.55, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 50,820K shares representing 12.56% ownership of the company. In it's prior filing, the firm reported owning 63,520K shares, representing a decrease of 24.99%. The firm decreased its portfolio allocation in IR by 7.19% over the last quarter.
Price T Rowe Associates holds 30,463K shares representing 7.53% ownership of the company. In it's prior filing, the firm reported owning 28,811K shares, representing an increase of 5.42%. The firm increased its portfolio allocation in IR by 25.40% over the last quarter.
Artisan Partners Limited Partnership holds 15,612K shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 21,100K shares, representing a decrease of 35.16%. The firm decreased its portfolio allocation in IR by 99.91% over the last quarter.
Jpmorgan Chase holds 14,725K shares representing 3.64% ownership of the company. In it's prior filing, the firm reported owning 17,488K shares, representing a decrease of 18.77%. The firm decreased its portfolio allocation in IR by 6.64% over the last quarter.
PRWCX - T. Rowe Price Capital Appreciation Fund holds 13,803K shares representing 3.41% ownership of the company. In it's prior filing, the firm reported owning 19,669K shares, representing a decrease of 42.50%. The firm decreased its portfolio allocation in IR by 17.34% over the last quarter.
Ingersoll-Rand Background Information
(This description is provided by the company.)
Ingersoll Rand Inc., driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on Ingersoll Rand for its technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where its products and services excel in the most complex and harsh conditions. Ingersoll Rand employees connect to customers for life by delivering proven expertise, productivity and efficiency improvements.
See all Ingersoll-Rand regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
