Legal & General Group Plc Acquires New Stake in Ingersoll Rand Inc. $IR

Legal & General Group Plc purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,062,968 shares of the industrial products company’s stock, valued at approximately $169,143,000.

Several other hedge funds have also modified their holdings of IR. Bell Investment Advisors Inc acquired a new stake in Ingersoll Rand in the 2nd quarter valued at about $26,000. Deseret Mutual Benefit Administrators lifted its position in shares of Ingersoll Rand by 46.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company’s stock worth $28,000 after buying an additional 112 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Ingersoll Rand in the fourth quarter valued at $29,000. Reflection Asset Management acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $31,000. Finally, Torren Management LLC acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $32,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IR has been the subject of several recent research reports. Weiss Ratings upgraded shares of Ingersoll Rand from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Stifel Nicolaus raised Ingersoll Rand from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Monday, August 3rd. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $103.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Citigroup reduced their target price on Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.14.

Ingersoll Rand Stock Performance

NYSE:IR opened at $79.93 on Thursday. Ingersoll Rand Inc. has a fifty-two week low of $68.07 and a fifty-two week high of $100.96. The company has a market cap of $31.01 billion, a P/E ratio of 32.89, a P/E/G ratio of 4.94 and a beta of 1.17. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $81.99 and its two-hundred day moving average is $82.06.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The company’s revenue was up 8.5% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. Analysts expect that Ingersoll Rand Inc. will post 3.39 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be given 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 of this dividend is Thursday, August 13th. Ingersoll Rand’s payout ratio is presently 3.29%.

Insider Buying and Selling at Ingersoll Rand

In other news, Director Aurobind Satpathy bought 11,538 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $1,000,113.84. Following the completion of the purchase, the director owned 11,538 shares of the company’s stock, valued at $1,000,113.84. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.49% of the company’s stock.

About Ingersoll Rand

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.