Praxis Investment Management Inc. Raises Holdings in Ingersoll Rand Inc. $IR

Praxis Investment Management Inc. boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 40.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,610 shares of the industrial products company’s stock after buying an additional 6,260 shares during the quarter. Praxis Investment Management Inc.’s holdings in Ingersoll Rand were worth $1,798,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new position in Ingersoll Rand during the first quarter valued at approximately $262,000. Concurrent Investment Advisors LLC boosted its stake in Ingersoll Rand by 14.4% in the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock valued at $245,000 after acquiring an additional 385 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Ingersoll Rand by 9.4% in the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company’s stock valued at $614,000 after acquiring an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ingersoll Rand by 14.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock valued at $58,147,000 after acquiring an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Ingersoll Rand by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock valued at $15,285,000 after acquiring an additional 4,690 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Down 1.1%

Shares of Ingersoll Rand stock opened at $75.80 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. The firm has a fifty day moving average price of $79.81 and a 200 day moving average price of $80.21. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The stock has a market cap of $30.13 billion, a PE ratio of 59.22, a price-to-earnings-growth ratio of 4.58 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company posted $0.83 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 6.25%.

Analyst Ratings Changes

Several equities research analysts have weighed in on IR shares. Morgan Stanley lowered their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Citigroup restated a “buy” rating and issued a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the company a “hold” rating in a research note on Monday, August 4th. Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research note on Monday, July 14th. Finally, Barclays lowered their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

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.