Ingersoll-Rand (NYSE:IR) released its quarterly earnings results on Wednesday. The industrial products company reported $1.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04, MarketWatch Earnings reports. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 earnings per share. Ingersoll-Rand updated its FY 2018 guidance to $5.55-5.60 EPS and its FY18 guidance to $5.55-5.60 EPS.
Ingersoll-Rand stock opened at $95.52 on Friday. Ingersoll-Rand has a one year low of $79.63 and a one year high of $105.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93. The stock has a market cap of $22.81 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.22%. The ex-dividend date is Thursday, December 6th. Ingersoll-Rand’s payout ratio is 47.01%.
In other news, SVP Marcia J. Avedon sold 10,408 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $104.00, for a total transaction of $1,082,432.00. Following the completion of the transaction, the senior vice president now directly owns 125,098 shares in the company, valued at approximately $13,010,192. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
Ingersoll-Rand declared that its Board of Directors has approved a stock buyback program on Wednesday, October 3rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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