Howard Capital Management Inc. Invests $226,000 in Ingersoll Rand Inc. $IR

Howard Capital Management Inc. bought a new position in Ingersoll Rand Inc. (NYSE:IR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,723 shares of the industrial products company’s stock, valued at approximately $226,000.

Other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC raised its holdings in Ingersoll Rand by 14.4% in the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 385 shares in the last quarter. Nordea Investment Management AB raised its holdings in Ingersoll Rand by 4.3% in the second quarter. Nordea Investment Management AB now owns 1,797,823 shares of the industrial products company’s stock worth $149,920,000 after purchasing an additional 74,070 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ingersoll Rand by 14.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock worth $58,147,000 after purchasing an additional 91,777 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Ingersoll Rand by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock worth $15,285,000 after purchasing an additional 4,690 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Ingersoll Rand by 1,460.0% in the first quarter. Teacher Retirement System of Texas now owns 58,923 shares of the industrial products company’s stock worth $4,716,000 after purchasing an additional 55,146 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IR shares. 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. Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Ingersoll Rand in a report on Wednesday, October 8th. Robert W. Baird raised their price target on Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a 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 for the company. in a report on Monday, July 14th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.09.

Ingersoll Rand Price Performance

NYSE IR opened at $78.65 on Friday. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The stock has a 50-day moving average of $79.93 and a 200 day moving average of $80.72. The company has a market capitalization of $31.26 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 4.75 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. Ingersoll Rand’s quarterly revenue was up 5.1% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th will be paid 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 is Thursday, November 13th. Ingersoll Rand’s payout ratio is currently 6.25%.

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.