Weitz Investment Management Inc. Purchases New Stake in Ingersoll Rand Inc. $IR

Weitz Investment Management Inc. acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 161,670 shares of the industrial products company’s stock, valued at approximately $13,255,000. Ingersoll Rand accounts for about 0.9% of Weitz Investment Management Inc.’s holdings, making the stock its 28th biggest position.

Several other large investors also recently made changes to their positions in IR. BlackRock Inc. acquired a new position in shares of Ingersoll Rand during the 2nd quarter valued at $2,484,319,000. Norges Bank purchased a new position in Ingersoll Rand in the fourth quarter valued at about $407,915,000. Bank of New York Mellon Corp acquired a new position in shares of Ingersoll Rand during the second quarter worth about $328,309,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Ingersoll Rand by 18.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock worth $1,726,308,000 after purchasing an additional 3,423,501 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Ingersoll Rand by 4.7% in the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company’s stock worth $4,147,878,000 after buying an additional 2,351,781 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $80.52 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40. Ingersoll Rand Inc. has a fifty-two week low of $68.07 and a fifty-two week high of $100.96. The business has a 50 day moving average price of $81.86 and a two-hundred day moving average price of $82.45. The firm has a market cap of $31.24 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 5.06 and a beta of 1.17.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%.The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business posted $0.80 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.39 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, August 13th. Ingersoll Rand’s dividend payout ratio is 3.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IR shares. Robert W. Baird raised their target price on Ingersoll Rand from $103.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Citigroup lowered their price objective on shares of Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Stifel Nicolaus upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Monday, August 3rd. Wells Fargo & Company reduced their target price on shares of Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $87.00 target price on shares of Ingersoll Rand in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $96.14.

Insiders Place Their Bets

In related news, Director Aurobind Satpathy acquired 11,538 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was bought at an average cost of $86.68 per share, with a total value of $1,000,113.84. Following the acquisition, the director directly owned 11,538 shares in the company, valued at approximately $1,000,113.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is currently owned by corporate insiders.

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.