Ingersoll Rand Inc. $IR Stock Position Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 11.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,218,909 shares of the industrial products company’s stock after purchasing an additional 236,140 shares during the period. Pictet Asset Management Holding SA’s holdings in Ingersoll Rand were worth $166,674,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Ingersoll Rand during the second quarter valued at approximately $2,484,319,000. Jupiter Topco LLC bought a new stake in Ingersoll Rand during the second quarter worth $547,628,000. Janus Henderson Group PLC raised its position in Ingersoll Rand by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 6,576,720 shares of the industrial products company’s stock valued at $526,926,000 after buying an additional 146,450 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Ingersoll Rand in the 2nd quarter valued at $328,309,000. Finally, Amundi raised its position in Ingersoll Rand by 19.3% in the 2nd quarter. Amundi now owns 3,282,920 shares of the industrial products company’s stock valued at $269,175,000 after buying an additional 531,095 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $82.96 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.38. The firm has a market cap of $31.86 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 3.47 and a beta of 1.15. Ingersoll Rand Inc. has a 1-year low of $68.07 and a 1-year high of $100.96. The stock has a fifty day simple moving average of $76.68 and a two-hundred day simple moving average of $81.16.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.05 billion. Ingersoll Rand had a return on equity of 13.47% and a net margin of 17.20%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Analysts anticipate that Ingersoll Rand Inc. will post 3.47 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Thursday, November 12th. Ingersoll Rand’s payout ratio is presently 2.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley set a $87.00 price objective on Ingersoll Rand in a research note on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, October 19th. Wall Street Zen downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target (up from $93.00) on shares of Ingersoll Rand in a research report on Monday, November 2nd. Finally, Robert W. Baird dropped their price target on shares of Ingersoll Rand from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Ingersoll Rand Profile

Ingersoll Rand Inc (NYSE: IR) is a global industrial company that designs and manufactures equipment and technologies used to move, manage and control air, gases, fluids and other materials. Its products include air and gas compressors, vacuum and blower systems, pumps, and related components and services.

The company also supplies precision and science technologies for applications such as fluid handling, material processing and life sciences. Its equipment and services support customers across a range of industries, including manufacturing, energy, healthcare and food and beverage.

The modern Ingersoll Rand was formed in 2020 through the combination of Gardner Denver and the industrial business of the former Ingersoll-Rand plc; the Ingersoll Rand name has roots dating to the 19th century.