Mitsubishi UFJ Asset Management Co. Ltd. Purchases 54,900 Shares of Ingersoll Rand Inc. $IR

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 781,464 shares of the industrial products company’s stock after purchasing an additional 54,900 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Ingersoll Rand worth $65,002,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rathbones Group PLC increased 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 valued at $724,000 after purchasing an additional 121 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of 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 valued at $474,000 after purchasing an additional 136 shares during the period. AdvisorNet Financial Inc grew its holdings 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 valued at $1,556,000 after buying an additional 138 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in shares of Ingersoll Rand by 5.3% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,942 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 147 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Ingersoll Rand by 14.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,206 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of IR opened at $77.50 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16. The company has a market capitalization of $30.62 billion, a price-to-earnings ratio of 57.41, a PEG ratio of 4.99 and a beta of 1.43. The company’s 50 day simple moving average is $79.55 and its 200 day simple moving average is $81.06. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03.

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

Ingersoll Rand Dividend Announcement

The business also recently declared 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 of this dividend is Thursday, November 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio is currently 5.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IR shares. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Monday, October 20th. Melius cut Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Morgan Stanley reduced their price objective on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Finally, Robert W. Baird lowered their price objective on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.64.

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.