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Stock Update (NYSE:IR): Ingersoll Rand Increases Dividend by 10 Percent

[Business Wire] – Ingersoll-Rand plc’s Board of Directors declared a quarterly dividend on February 3 of $0.32 per ordinary share, reflecting a 10 percent increase and an annual dividend rate of $1.28 per share, up from $1.16 per share. Read more on this. Ingersoll-Rand Plc (IR) , currently valued at $12.65B, started the session at $49.03. Looking at today’s trading action, the company’s one day range from $48.38 to $49.72 and has traded between $47.08 and $70.93 over the past 12 months. IR shares are currently priced at 13.84x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 16.11x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.16 per share annually in dividends, yielding 2.25%. According to a consensus of 21 analysts, the earnings estimate of $0.93 per share would be $0.11 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.72 would be a $0.39 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.30 Billion. If realized, that would be a 1.85% increase over the year-ago quarter. Recently, Stifel upgraded IR from Hold to Buy (Jul 13, 2015). Previously, Argus upgraded IR from Hold to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $64.24, which is 31.02% above where the stock opened this morning. See more in (NYSE:IR) Similar Articles: Stock Update: Ingersoll-Rand Plc (NYSE:IR) – Ingersoll Rand Marks Climate Commitment Achievement at White House HFC Reduction Roundtable Company Update: Ingersoll-Rand Plc (NYSE:IR) – Ingersoll Rand Introduces New TURBO-AIR NX 8000 Integrally Geared Centrifugal Compressor Company Update: Ingersoll-Rand Plc (NYSE:IR) – Blake Koch Will Turn the Corners at Bristol Motor Speedway in Ingersoll Rand No. 8 Car this Weekend
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