Axxcess Wealth Management LLC Grows Position in Ingersoll Rand Inc. $IR

Axxcess Wealth Management LLC increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 26.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,313 shares of the industrial products company’s stock after buying an additional 889 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Ingersoll Rand were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rathbones Group PLC grew its stake in Ingersoll Rand by 1.4% during the 1st quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company’s stock worth $724,000 after buying an additional 121 shares during the last quarter. EP Wealth Advisors LLC lifted its position in Ingersoll Rand by 2.4% during the 1st quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company’s stock worth $474,000 after acquiring an additional 136 shares during the period. Compass Wealth Management LLC lifted its position in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 137 shares during the period. AdvisorNet Financial Inc lifted its position in Ingersoll Rand by 0.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 18,708 shares of the industrial products company’s stock worth $1,556,000 after acquiring an additional 138 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its position in Ingersoll Rand by 5.3% during the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,942 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 147 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IR shares. Melius cut Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the stock a “hold” rating in a research report on Monday, August 4th. Wells Fargo & Company increased their price objective on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Barclays decreased their price objective 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. Finally, Morgan Stanley reduced their price target on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Ingersoll Rand Stock Up 1.7%

IR opened at $77.13 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 business has a 50 day simple moving average of $79.84 and a 200-day simple moving average of $80.17. The stock has a market capitalization of $30.65 billion, a P/E ratio of 60.26, a P/E/G ratio of 4.61 and a beta of 1.43. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its quarterly 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 business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s payout ratio is currently 6.25%.

About Ingersoll Rand

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.