OMERS ADMINISTRATION Corp Increases Stock Position in Ingersoll Rand Inc. $IR

OMERS ADMINISTRATION Corp increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,485 shares of the industrial products company’s stock after buying an additional 9,511 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Ingersoll Rand were worth $9,802,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Compass Wealth Management LLC grew its stake in shares of Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 137 shares in the last quarter. Global Wealth Strategies & Associates boosted its holdings in Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 286 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 172 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

IR has been the subject of several research analyst reports. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the company a “hold” rating in a research note on Monday, August 4th. Melius cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Monday, July 14th. 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. Barclays decreased their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, Robert W. Baird upped their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $97.75.

Ingersoll Rand Stock Down 0.5%

IR stock opened at $80.74 on Thursday. The firm has a market cap of $32.09 billion, a price-to-earnings ratio of 63.08, a PEG ratio of 4.58 and a beta of 1.41. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The firm has a fifty day moving average price of $83.01 and a two-hundred day moving average price of $81.18. 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 (NYSE:IR) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) 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 company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, August 14th. Ingersoll Rand’s payout ratio is presently 6.25%.

Ingersoll Rand announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.