Moran Wealth Management LLC Acquires 6,495 Shares of Ingersoll Rand Inc. $IR

by · The Cerbat Gem

Moran Wealth Management LLC raised its holdings in Ingersoll Rand Inc. (NYSE:IR – Free Report) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 188,651 shares of the industrial products company’s stock after acquiring an additional 6,495 shares during the period. Moran Wealth Management LLC’s holdings in Ingersoll Rand were worth $15,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Ingersoll Rand by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 47,128,533 shares of the industrial products company’s stock valued at $3,920,151,000 after acquiring an additional 859,062 shares during the period. State Street Corp grew its position in shares of Ingersoll Rand by 1.5% in the second quarter. State Street Corp now owns 16,514,718 shares of the industrial products company’s stock valued at $1,373,694,000 after purchasing an additional 239,779 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Ingersoll Rand by 4.5% during the 2nd quarter. Franklin Resources Inc. now owns 13,297,463 shares of the industrial products company’s stock valued at $1,106,083,000 after purchasing an additional 574,437 shares during the period. Geode Capital Management LLC lifted its holdings in Ingersoll Rand by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 10,190,572 shares of the industrial products company’s stock worth $844,028,000 after purchasing an additional 211,316 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Ingersoll Rand by 0.6% in the 2nd quarter. Fisher Asset Management LLC now owns 6,913,924 shares of the industrial products company’s stock worth $575,100,000 after purchasing an additional 38,999 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Performance

NYSE IR opened at $81.34 on Thursday. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $95.85. The company has a fifty day moving average of $79.00 and a 200-day moving average of $80.66. The company has a market capitalization of $32.14 billion, a P/E ratio of 60.25, a P/E/G ratio of 5.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16.

Ingersoll Rand (NYSE:IR – Get Free Report) 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). Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the transaction, the chief accounting officer directly owned 12,153 shares in the company, valued at $979,896.39. This trade represents a 10.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IR has been the topic of several analyst reports. Stifel Nicolaus upped their price target on Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. 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. Citigroup upped their price target on shares of Ingersoll Rand from $91.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company boosted their target price on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Ingersoll Rand currently has an average rating of “Hold” and a consensus target price of $91.11.

Read Our Latest Stock Analysis on IR

Ingersoll Rand Company Profile

(Free Report)

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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