PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in Ingersoll Rand Inc. (NYSE:IR – Free Report) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,260 shares of the industrial products company’s stock after acquiring an additional 7,300 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Ingersoll Rand were worth $5,761,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of Ingersoll Rand by 388.7% during the 1st quarter. Fifth Third Bancorp now owns 81,961 shares of the industrial products company’s stock valued at $6,567,000 after purchasing an additional 65,189 shares during the last quarter. National Pension Service increased its holdings in Ingersoll Rand by 3.0% during the fourth quarter. National Pension Service now owns 636,270 shares of the industrial products company’s stock worth $50,405,000 after buying an additional 18,289 shares during the last quarter. Strs Ohio raised its position in Ingersoll Rand by 11.2% in the fourth quarter. Strs Ohio now owns 237,624 shares of the industrial products company’s stock worth $18,825,000 after acquiring an additional 23,974 shares during the period. Norges Bank bought a new stake in Ingersoll Rand in the fourth quarter worth about $407,915,000. Finally, Hsbc Holdings PLC boosted its stake in Ingersoll Rand by 4.4% in the first quarter. Hsbc Holdings PLC now owns 705,454 shares of the industrial products company’s stock valued at $56,415,000 after acquiring an additional 29,914 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Director Aurobind Satpathy purchased 11,538 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $86.68 per share, with a total value of $1,000,113.84. Following the completion of the acquisition, the director directly owned 11,538 shares of the company’s stock, valued at approximately $1,000,113.84. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.
Ingersoll Rand Price Performance
Ingersoll Rand (NYSE:IR – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. Equities analysts forecast that Ingersoll Rand Inc. will post 3.38 EPS for the current year.
Ingersoll Rand Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s payout ratio is presently 3.29%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on IR shares. Stifel Nicolaus raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research report on Monday, August 3rd. Weiss Ratings upgraded Ingersoll Rand from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Robert W. Baird increased their price objective on Ingersoll Rand from $103.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Evercore set a $84.00 price objective on Ingersoll Rand in a report on Monday, May 11th. Finally, Wells Fargo & Company lowered their target price on Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.14.
Check Out Our Latest Report on Ingersoll Rand
Ingersoll Rand Company Profile
Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.
Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.
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