OFI Invest Asset Management Grows Stock Position in Ingersoll Rand Inc. $IR

OFI Invest Asset Management grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 63.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,286 shares of the industrial products company’s stock after purchasing an additional 498 shares during the quarter. OFI Invest Asset Management’s holdings in Ingersoll Rand were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Compass Wealth Management LLC increased its position in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 137 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 313 shares during the period. Farmers & Merchants Investments Inc. grew its stake in shares of 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 acquiring an additional 172 shares during the period. Larson Financial Group LLC grew its stake in shares of Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 285 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Ingersoll Rand during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IR. Robert W. Baird boosted their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. 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. Stifel Nicolaus set a $78.00 price target on Ingersoll Rand and gave the stock a “hold” rating in a research note on Monday, August 4th. Finally, Barclays dropped their price target on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Ingersoll Rand Trading Down 3.1%

IR stock opened at $76.05 on Monday. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. The company has a market capitalization of $30.23 billion, a price-to-earnings ratio of 59.41, a PEG ratio of 4.49 and a beta of 1.43. The business has a 50 day simple moving average of $79.88 and a two-hundred day simple moving average of $80.30.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were 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 was Thursday, August 14th. Ingersoll Rand’s dividend payout ratio is 6.25%.

Ingersoll Rand 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.