Russell Investments Group Ltd. Acquires 37,426 Shares of Ingersoll Rand Inc. $IR

Russell Investments Group Ltd. raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 12.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,036 shares of the industrial products company’s stock after buying an additional 37,426 shares during the period. Russell Investments Group Ltd.’s holdings in Ingersoll Rand were worth $28,171,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IR. Nordea Investment Management AB increased its holdings in shares of Ingersoll Rand by 4.3% during 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ingersoll Rand by 14.5% during 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 buying an additional 91,777 shares in the last quarter. Allworth Financial LP increased its stake in Ingersoll Rand by 85.3% during the 2nd quarter. Allworth Financial LP now owns 8,116 shares of the industrial products company’s stock worth $675,000 after acquiring an additional 3,736 shares during the period. PNC Financial Services Group Inc. increased its stake in Ingersoll Rand by 2.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock worth $15,285,000 after acquiring an additional 4,690 shares during the period. Finally, Arkadios Wealth Advisors raised its holdings in Ingersoll Rand by 70.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,395 shares of the industrial products company’s stock valued at $366,000 after acquiring an additional 1,811 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Up 0.6%

IR opened at $80.34 on Friday. The company has a market cap of $31.74 billion, a P/E ratio of 59.51, a PEG ratio of 5.19 and a beta of 1.43. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $78.78 and its 200-day moving average is $80.97. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $105.65.

Ingersoll Rand (NYSE:IR) last issued 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). The company 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 12.14%. Ingersoll Rand’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be issued 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 dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is 5.93%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IR. Wells Fargo & Company raised their price target on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Morgan Stanley decreased their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Barclays cut their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Citigroup decreased their price objective on shares of Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $93.90.

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.