NorthRock Partners LLC boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) by 23.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,676 shares of the industrial products company’s stock after purchasing an additional 1,253 shares during the quarter. NorthRock Partners LLC’s holdings in Ingersoll Rand were worth $555,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new stake in Ingersoll Rand during the first quarter worth $262,000. Concurrent Investment Advisors LLC boosted its position in Ingersoll Rand by 14.4% during the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 385 shares in the last quarter. QRG Capital Management Inc. boosted its position in Ingersoll Rand by 9.4% during the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company’s stock worth $614,000 after purchasing an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ingersoll Rand by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock worth $58,147,000 after purchasing an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Ingersoll Rand by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock worth $15,285,000 after purchasing an additional 4,690 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on IR shares. Citigroup reissued a “buy” rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Barclays cut their price target on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a report on Wednesday, October 8th. Finally, Melius cut Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.
Ingersoll Rand Stock Performance
Ingersoll Rand stock opened at $76.80 on Thursday. The firm has a market capitalization of $30.52 billion, a P/E ratio of 60.00, a PEG ratio of 4.56 and a beta of 1.43. The stock has a fifty day moving average price of $79.82 and a 200 day moving average price of $80.24. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47.
Ingersoll Rand (NYSE:IR – Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.
Ingersoll Rand Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio is currently 6.25%.
Ingersoll Rand Profile
Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.
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