Sumitomo Mitsui Trust Group Inc. Raises Stock Position in Ingersoll Rand Inc. $IR

Sumitomo Mitsui Trust Group Inc. raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 977,957 shares of the industrial products company’s stock after acquiring an additional 6,387 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Ingersoll Rand were worth $80,799,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NewSquare Capital LLC lifted its holdings in shares of Ingersoll Rand by 150.7% in the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after buying an additional 205 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in Ingersoll Rand during the third quarter valued at approximately $36,000. Gladwyn Financial Advisors Inc. acquired a new position in Ingersoll Rand in the second quarter valued at approximately $42,000. Legacy Investment Solutions LLC purchased a new stake in Ingersoll Rand in the 2nd quarter worth approximately $45,000. Finally, Osterweis Capital Management Inc. grew its stake in shares of Ingersoll Rand by 6,210.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 631 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 621 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on IR. Stifel Nicolaus boosted their target price on shares of Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Citigroup upped their price target on Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Monday. Finally, Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $91.56.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $80.63, for a total value of $119,090.51. Following the transaction, the chief accounting officer owned 12,153 shares in the company, valued at approximately $979,896.39. This trade represents a 10.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Ingersoll Rand Stock Up 0.1%

IR opened at $85.94 on Thursday. The company has a market cap of $33.95 billion, a PE ratio of 63.66, a price-to-earnings-growth ratio of 5.42 and a beta of 1.33. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $95.85. The company has a 50-day moving average price of $79.82 and a 200 day moving average price of $80.73. 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 (NYSE:IR) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 13th were given 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 was Thursday, November 13th. Ingersoll Rand’s payout ratio is presently 5.93%.

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.