Bleakley Financial Group LLC Boosts Stock Holdings in Ingersoll Rand Inc. $IR

Bleakley Financial Group LLC grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,233 shares of the industrial products company’s stock after purchasing an additional 2,777 shares during the quarter. Bleakley Financial Group LLC’s holdings in Ingersoll Rand were worth $1,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC increased its holdings in Ingersoll Rand by 14.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 385 shares in the last quarter. Nordea Investment Management AB increased its holdings in Ingersoll Rand by 4.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,797,823 shares of the industrial products company’s stock worth $149,920,000 after acquiring an additional 74,070 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ingersoll Rand by 14.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock worth $58,147,000 after acquiring an additional 91,777 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Ingersoll Rand by 2.5% in 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 in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Ingersoll Rand by 1,460.0% in the 1st quarter. Teacher Retirement System of Texas now owns 58,923 shares of the industrial products company’s stock worth $4,716,000 after acquiring an additional 55,146 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 0.6%

Shares of IR stock opened at $79.86 on Friday. The company’s 50-day moving average price is $79.89 and its 200-day moving average price is $80.44. 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 market cap of $31.74 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 4.79 and a beta of 1.43. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting 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 company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th will be given 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 payout ratio is presently 6.25%.

Analyst Ratings Changes

Several equities research analysts recently commented on IR shares. Melius lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Monday, July 14th. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Robert W. Baird lifted their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Citigroup reaffirmed a “buy” rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Finally, Stifel Nicolaus lifted their target price on shares of Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday. 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.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target 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.