Ethic Inc. Purchases 6,399 Shares of Ingersoll Rand Inc. $IR

Ethic Inc. boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,586 shares of the industrial products company’s stock after buying an additional 6,399 shares during the quarter. Ethic Inc.’s holdings in Ingersoll Rand were worth $7,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IR. Concurrent Investment Advisors LLC increased its position in Ingersoll Rand by 14.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 385 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Ingersoll Rand by 14.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock valued at $58,147,000 after purchasing an additional 91,777 shares during the period. Nordea Investment Management AB increased its position in Ingersoll Rand by 4.3% during the 2nd quarter. Nordea Investment Management AB now owns 1,797,823 shares of the industrial products company’s stock valued at $149,920,000 after purchasing an additional 74,070 shares during the period. PNC Financial Services Group Inc. increased its position 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 valued at $15,285,000 after purchasing an additional 4,690 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Ingersoll Rand by 1,460.0% during the 1st quarter. Teacher Retirement System of Texas now owns 58,923 shares of the industrial products company’s stock valued at $4,716,000 after purchasing an additional 55,146 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup reissued a “buy” rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Barclays reduced their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Monday, July 14th. Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a research report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.09.

Ingersoll Rand Stock Down 1.7%

NYSE:IR opened at $78.19 on Thursday. The firm’s 50-day moving average price is $79.85 and its 200-day moving average price is $80.26. The company has a market capitalization of $31.08 billion, a PE ratio of 61.09, a P/E/G ratio of 4.75 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm earned $0.83 EPS. The company’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. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

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.