Strs Ohio Has $20.69 Million Stock Position in Ingersoll Rand Inc. $IR

Strs Ohio reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 24.3% during the second quarter, Holdings Channel.com reports. The fund owned 248,734 shares of the industrial products company’s stock after selling 79,860 shares during the period. Strs Ohio’s holdings in Ingersoll Rand were worth $20,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IR. Vanguard Group Inc. lifted its stake in Ingersoll Rand by 1.3% in the first quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company’s stock valued at $3,702,946,000 after buying an additional 585,455 shares during the period. JPMorgan Chase & Co. lifted its stake in Ingersoll Rand by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock valued at $1,580,196,000 after buying an additional 866,759 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Ingersoll Rand by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock valued at $1,536,464,000 after buying an additional 1,849,030 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Ingersoll Rand by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after buying an additional 3,989,643 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Ingersoll Rand by 7.8% in the first quarter. Wellington Management Group LLP now owns 4,261,123 shares of the industrial products company’s stock valued at $341,018,000 after buying an additional 307,557 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IR shares. Melius Research set a $93.00 price target on Ingersoll Rand in a research note on Monday, July 14th. Melius lowered Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research note on Monday, July 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a research note on Wednesday, October 8th. Morgan Stanley lowered their target price 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. Finally, Barclays cut their target price on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $98.09.

Ingersoll Rand Trading Down 3.0%

Shares of Ingersoll Rand stock opened at $76.34 on Friday. The company has a market capitalization of $30.34 billion, a P/E ratio of 56.55, a price-to-earnings-growth ratio of 4.70 and a beta of 1.43. 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 fifty day simple moving average of $79.84 and a 200 day simple moving average of $80.74. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.10%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, November 13th. Ingersoll Rand’s dividend payout ratio is 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.