OFI Invest Asset Management Raises Stock Holdings in Ingersoll Rand Inc. $IR

OFI Invest Asset Management boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 63.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,286 shares of the industrial products company’s stock after buying an additional 498 shares during the quarter. OFI Invest Asset Management’s holdings in Ingersoll Rand were worth $107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Wealth Management LLC raised its holdings 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 valued at $28,000 after buying an additional 137 shares during the period. Golden State Wealth Management LLC raised its holdings in Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after buying an additional 313 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock valued at $39,000 after buying an additional 172 shares during the period. Larson Financial Group LLC raised its holdings in Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock valued at $39,000 after buying an additional 285 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Ingersoll Rand during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR stock opened at $76.05 on Monday. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The stock’s 50-day moving average is $79.88 and its 200 day moving average is $80.30. The company has a market cap of $30.23 billion, a P/E ratio of 59.41, a PEG ratio of 4.49 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 6.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the stock a “hold” rating in a research note on Monday, August 4th. Morgan Stanley dropped their price target 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. Citigroup reissued a “buy” rating and set a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird increased their price target on Ingersoll Rand from $97.00 to $103.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Finally, Melius downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research report on Monday, July 14th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Ingersoll Rand Profile

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.