Ninety One UK Ltd Raises Stock Holdings in Ingersoll Rand Inc. $IR

Ninety One UK Ltd boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 11.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 102,158 shares of the industrial products company’s stock after acquiring an additional 10,793 shares during the quarter. Ninety One UK Ltd’s holdings in Ingersoll Rand were worth $8,440,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. NewSquare Capital LLC lifted its holdings in shares of Ingersoll Rand by 150.7% during the second quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 205 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in Ingersoll Rand during the 3rd quarter worth approximately $36,000. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Ingersoll Rand in the 2nd quarter valued at $42,000. Legacy Wealth Managment LLC ID acquired a new stake in shares of Ingersoll Rand in the first quarter worth $43,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Ingersoll Rand in the second quarter worth $45,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on IR. Robert W. Baird decreased their target price 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. Citigroup upped their target price on Ingersoll Rand from $91.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Wells Fargo & Company upped 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $91.44.

Ingersoll Rand Trading Down 1.8%

Shares of NYSE:IR opened at $79.22 on Friday. The business’s 50 day moving average price is $78.84 and its 200-day moving average price is $80.64. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $95.85. The firm has a market capitalization of $31.30 billion, a price-to-earnings ratio of 58.68, a price-to-earnings-growth ratio of 5.11 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51.

Ingersoll Rand (NYSE:IR) last posted 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). The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, November 13th. Ingersoll Rand’s dividend payout ratio (DPR) is 5.93%.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 1,477 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the sale, the chief accounting officer directly owned 12,153 shares in the company, valued at approximately $979,896.39. The trade was a 10.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company’s stock.

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.