Ingersoll Rand Inc. $IR Shares Purchased by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System boosted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,590 shares of the industrial products company’s stock after purchasing an additional 4,720 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Ingersoll Rand were worth $33,654,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Nordea Investment Management AB lifted its stake in shares of Ingersoll Rand by 4.3% in 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 during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Ingersoll Rand in the second quarter valued at about $8,375,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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. Allworth Financial LP boosted its stake in shares of 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 in the last quarter. Finally, PNC Financial Services Group Inc. boosted 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 worth $15,285,000 after acquiring an additional 4,690 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

NYSE:IR opened at $80.34 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51. The firm has a market cap of $31.74 billion, a PE ratio of 59.51, a P/E/G ratio of 5.19 and a beta of 1.43. The firm has a 50 day simple moving average of $78.78 and a 200-day simple moving average of $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 announced its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, November 13th. Ingersoll Rand’s dividend payout ratio is presently 5.93%.

Analyst Ratings Changes

Several equities analysts recently issued reports on IR shares. Zacks Research cut Ingersoll Rand from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. Stifel Nicolaus lifted their price target on Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Morgan Stanley lowered 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 research note on Wednesday, August 13th. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Tuesday. Finally, Barclays reduced their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.90.

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.