Norges Bank Acquires New Position in Ingersoll Rand Inc. $IR

Norges Bank acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the fourth quarter, Holdings Channel.com reports. The fund acquired 5,149,142 shares of the industrial products company’s stock, valued at approximately $407,915,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Ingersoll Rand by 9.9% in the fourth quarter. Nordea Investment Management AB now owns 2,219,327 shares of the industrial products company’s stock worth $177,324,000 after acquiring an additional 200,689 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Ingersoll Rand in the third quarter worth approximately $1,533,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Ingersoll Rand by 79.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,411 shares of the industrial products company’s stock worth $2,347,000 after acquiring an additional 12,539 shares in the last quarter. National Pension Service grew its position in Ingersoll Rand by 2.7% in the third quarter. National Pension Service now owns 617,981 shares of the industrial products company’s stock worth $51,058,000 after acquiring an additional 16,084 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co grew its position in Ingersoll Rand by 8.8% in the third quarter. Varma Mutual Pension Insurance Co now owns 154,664 shares of the industrial products company’s stock worth $12,778,000 after acquiring an additional 12,500 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on IR shares. Robert W. Baird set a $103.00 target price on shares of Ingersoll Rand in a research report on Thursday, April 30th. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Citigroup decreased their target price on shares of Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Barclays decreased their target price on shares of Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Wall Street Zen cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.38.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 30,492 shares of the company’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $88.00, for a total transaction of $2,683,296.00. Following the completion of the transaction, the insider directly owned 209,534 shares in the company, valued at $18,438,992. This represents a 12.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $71.15 on Tuesday. The firm has a fifty day simple moving average of $78.44 and a 200-day simple moving average of $82.92. The company has a current ratio of 2.23, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 1-year low of $68.07 and a 1-year high of $100.96. The stock has a market capitalization of $27.84 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 4.53 and a beta of 1.20.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the company earned $0.72 earnings per share. Ingersoll Rand’s revenue for the quarter was up 7.6% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.37 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, May 14th. Ingersoll Rand’s dividend payout ratio is presently 5.41%.

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.