Howard Capital Management Inc. Purchases Shares of 2,723 Ingersoll Rand Inc. $IR

Howard Capital Management Inc. purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the second quarter, HoldingsChannel reports. The institutional investor purchased 2,723 shares of the industrial products company’s stock, valued at approximately $226,000.

A number of other large investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its position in Ingersoll Rand by 14.4% during the first 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 in the last quarter. Nordea Investment Management AB lifted its position in 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 valued at $149,920,000 after purchasing an additional 74,070 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 91,777 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of 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 acquiring an additional 4,690 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of 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 acquiring 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 recently issued reports on the company. Melius Research set a $93.00 price objective on Ingersoll Rand in a research note on Monday, July 14th. Stifel Nicolaus boosted their price objective on Ingersoll Rand from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Monday, October 20th. Citigroup reiterated a “buy” rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingersoll Rand in a research note on Wednesday, October 8th. Finally, Morgan Stanley cut their price objective on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.09.

Ingersoll Rand Trading Down 1.3%

Shares of IR stock opened at $78.65 on Friday. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. 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’s 50-day moving average price is $79.93 and its 200-day moving average price is $80.72. The stock has a market capitalization of $31.26 billion, a price-to-earnings ratio of 61.45, a price-to-earnings-growth ratio of 4.75 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. 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 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, November 13th. Ingersoll Rand’s dividend payout ratio is 6.25%.

About Ingersoll Rand

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.