91,365 Shares in Ingersoll Rand Inc. $IR Purchased by Ninety One UK Ltd

Ninety One UK Ltd bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the second quarter, Holdings Channel reports. The fund bought 91,365 shares of the industrial products company’s stock, valued at approximately $7,600,000.

Other hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its holdings 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 worth $1,426,654,000 after acquiring an additional 3,989,643 shares in the last quarter. Nuveen LLC purchased a new position in shares of Ingersoll Rand in the 1st quarter worth about $211,408,000. Price T Rowe Associates Inc. MD boosted its stake in Ingersoll Rand by 10.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock worth $1,536,464,000 after purchasing an additional 1,849,030 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 4.6% during the 1st quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock valued at $1,580,196,000 after purchasing an additional 866,759 shares during the last quarter. Finally, Swedbank AB increased its stake in Ingersoll Rand by 421.4% during the 2nd quarter. Swedbank AB now owns 932,978 shares of the industrial products company’s stock valued at $77,605,000 after purchasing an additional 754,032 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IR shares. Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Citigroup reissued a “buy” rating and issued a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Morgan Stanley lowered their price target on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Finally, Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the company a “hold” rating in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $97.75.

Ingersoll Rand Trading Up 1.1%

Shares of NYSE:IR opened at $83.55 on Thursday. The stock’s 50-day simple moving average is $80.43 and its two-hundred day simple moving average is $80.36. The stock has a market capitalization of $33.20 billion, a price-to-earnings ratio of 65.27, a PEG ratio of 4.66 and a beta of 1.43. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. 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 issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, August 14th. 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.