Clark Asset Management LLC Purchases Shares of 2,813 Ingersoll Rand Inc. $IR

Clark Asset Management LLC purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,813 shares of the industrial products company’s stock, valued at approximately $234,000.

Other large investors have also added to or reduced their stakes in the company. Compass Wealth Management LLC grew its stake 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 purchasing an additional 137 shares during the last quarter. Golden State Wealth Management LLC grew its stake 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 purchasing an additional 313 shares during the last quarter. Larson Financial Group LLC grew its stake 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 purchasing an additional 285 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Ingersoll Rand during the 1st quarter valued at about $40,000. Finally, Gladwyn Financial Advisors Inc. purchased a new stake in Ingersoll Rand during the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus boosted their price objective on Ingersoll Rand from $78.00 to $79.00 and gave the company a “hold” rating in a report on Monday, October 20th. Barclays decreased their price objective on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a report on Wednesday, October 8th. Melius Research set a $93.00 price objective on Ingersoll Rand in a report on Monday, July 14th. Finally, Robert W. Baird boosted their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $98.09.

Ingersoll Rand Stock Performance

NYSE IR opened at $78.82 on Wednesday. The stock has a market capitalization of $31.33 billion, a price-to-earnings ratio of 61.58, a PEG ratio of 4.79 and a beta of 1.43. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $79.90 and a 200 day moving average of $80.69.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The company 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%.Ingersoll Rand’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio is presently 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.