Police & Firemen s Retirement System of New Jersey Purchases 2,557 Shares of Ingersoll Rand Inc. $IR

Police & Firemen s Retirement System of New Jersey grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 61,258 shares of the industrial products company’s stock after buying an additional 2,557 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ingersoll Rand were worth $5,095,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its position in Ingersoll Rand by 28.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after purchasing an additional 3,989,643 shares during the period. Nuveen LLC purchased a new stake in shares of Ingersoll Rand in the 1st quarter worth about $211,408,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Ingersoll Rand by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock valued at $1,536,464,000 after purchasing an additional 1,849,030 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Ingersoll Rand by 8,153.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,614,212 shares of the industrial products company’s stock valued at $137,692,000 after buying an additional 1,594,653 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Ingersoll Rand by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock worth $1,580,196,000 after buying an additional 866,759 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays decreased their target price on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Morgan Stanley decreased their price target 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. Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Robert W. Baird cut their price objective on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Citigroup lowered their target price on shares of Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.90.

Ingersoll Rand Trading Down 1.1%

NYSE:IR opened at $75.34 on Friday. The stock has a market cap of $29.77 billion, a price-to-earnings ratio of 55.81, a PEG ratio of 4.85 and a beta of 1.43. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $79.33 and its 200-day moving average price is $81.07. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the company posted $0.84 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be issued a $0.02 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.93%.

Ingersoll Rand Company 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.