Ingersoll Rand Inc. $IR Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 971,570 shares of the industrial products company’s stock after buying an additional 23,069 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Ingersoll Rand were worth $80,815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its position in Ingersoll Rand by 2.5% during the second quarter. Asset Management One Co. Ltd. now owns 213,102 shares of the industrial products company’s stock worth $17,726,000 after acquiring an additional 5,177 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Ingersoll Rand by 14.3% during the 2nd quarter. Bleakley Financial Group LLC now owns 22,233 shares of the industrial products company’s stock worth $1,849,000 after purchasing an additional 2,777 shares during the last quarter. Ethic Inc. boosted its holdings in shares of Ingersoll Rand by 8.2% during the 2nd quarter. Ethic Inc. now owns 84,586 shares of the industrial products company’s stock worth $7,128,000 after purchasing an additional 6,399 shares during the last quarter. Exencial Wealth Advisors LLC acquired a new position in shares of Ingersoll Rand during the 2nd quarter worth approximately $208,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Ingersoll Rand by 0.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 176,427 shares of the industrial products company’s stock worth $14,883,000 after purchasing an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $79.86 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The firm’s 50 day moving average price is $79.89 and its 200-day moving average price is $80.59. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The firm has a market cap of $31.74 billion, a P/E ratio of 62.39, a P/E/G ratio of 4.76 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting 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 analysts’ expectations of $1.85 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The firm’s revenue 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. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio is presently 6.25%.

Analysts Set New Price Targets

A number of research firms have weighed in on IR. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a research note on Saturday. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Citigroup reiterated a “buy” rating and issued a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Finally, Barclays decreased their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.09.

Ingersoll Rand Company 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.