Natixis Buys New Stake in Ingersoll Rand Inc. $IR

Natixis purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 41,091 shares of the industrial products company’s stock, valued at approximately $3,418,000.

A number of other large investors also recently modified their holdings of IR. California Public Employees Retirement System lifted its holdings in Ingersoll Rand by 9.7% in the second quarter. California Public Employees Retirement System now owns 718,990 shares of the industrial products company’s stock worth $59,806,000 after purchasing an additional 63,871 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Ingersoll Rand by 4.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 94,475 shares of the industrial products company’s stock worth $7,858,000 after buying an additional 3,781 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Ingersoll Rand in the 2nd quarter worth approximately $1,394,000. Brown Advisory Inc. boosted its holdings in shares of Ingersoll Rand by 47.7% in the second quarter. Brown Advisory Inc. now owns 8,469 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 2,736 shares in the last quarter. Finally, Amundi increased its stake in shares of Ingersoll Rand by 12.1% during the second quarter. Amundi now owns 2,103,024 shares of the industrial products company’s stock valued at $182,017,000 after acquiring an additional 226,249 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $80.98 on Thursday. The stock’s fifty day simple moving average is $78.41 and its 200 day simple moving average is $80.81. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 59.98, a PEG ratio of 5.06 and a beta of 1.33. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $102.98.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, November 13th. Ingersoll Rand’s dividend payout ratio (DPR) is 5.93%.

Insider Activity

In related news, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $80.63, for a total value of $119,090.51. Following the completion of the sale, the chief accounting officer owned 12,153 shares in the company, valued at approximately $979,896.39. This represents a 10.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IR shares. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday. Citigroup boosted their price objective on Ingersoll Rand from $91.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised their target price on Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Morgan Stanley lowered their target price on 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, Robert W. Baird cut their price target on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Hold” and an average target price of $94.20.

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.