Fifth Third Wealth Advisors LLC Buys 286 Shares of Ingersoll Rand Inc. $IR

Fifth Third Wealth Advisors LLC increased its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,028 shares of the industrial products company’s stock after acquiring an additional 286 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ingersoll Rand were worth $668,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IR. T. Rowe Price Investment Management Inc. increased its stake in shares of Ingersoll Rand by 28.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after acquiring an additional 3,989,643 shares in the last quarter. Nuveen LLC acquired a new stake in Ingersoll Rand in the 1st quarter valued at $211,408,000. Price T Rowe Associates Inc. MD grew its position in Ingersoll Rand by 10.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock valued at $1,536,464,000 after purchasing an additional 1,849,030 shares during the period. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 4.6% in the 1st quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock valued at $1,580,196,000 after purchasing an additional 866,759 shares during the period. Finally, Swedbank AB grew its position in Ingersoll Rand by 421.4% in the 2nd quarter. Swedbank AB now owns 932,978 shares of the industrial products company’s stock valued at $77,605,000 after purchasing an additional 754,032 shares during the period. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

IR has been the subject of several research reports. Robert W. Baird lifted 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Morgan Stanley cut their price objective 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. Finally, 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 report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $76.05 on Monday. The company’s 50-day moving average is $79.88 and its 200 day moving average is $80.30. 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 company has a market capitalization of $30.23 billion, a P/E ratio of 59.41, a price-to-earnings-growth ratio of 4.49 and a beta of 1.43. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its quarterly 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. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 14th. Ingersoll Rand’s payout ratio is 6.25%.

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.