Legal & General Group Plc Takes Position in Ingersoll Rand Inc. $IR

Legal & General Group Plc purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,062,968 shares of the industrial products company’s stock, valued at approximately $169,143,000. Legal & General Group Plc owned approximately 0.53% of Ingersoll Rand as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of Ingersoll Rand by 4.7% during the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company’s stock worth $4,147,878,000 after purchasing an additional 2,351,781 shares in the last quarter. BlackRock Inc. purchased a new position in Ingersoll Rand in the 2nd quarter valued at about $2,484,319,000. T. Rowe Price Investment Management Inc. boosted its holdings in Ingersoll Rand by 18.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock worth $1,726,308,000 after buying an additional 3,423,501 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Ingersoll Rand by 1.2% in the fourth quarter. Capital Research Global Investors now owns 19,476,801 shares of the industrial products company’s stock worth $1,543,017,000 after acquiring an additional 222,125 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Ingersoll Rand by 8.6% during the 4th quarter. Franklin Resources Inc. now owns 15,641,979 shares of the industrial products company’s stock worth $1,239,158,000 after purchasing an additional 1,237,527 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore set a $84.00 price target on shares of Ingersoll Rand in a research report on Monday, May 11th. Weiss Ratings upgraded Ingersoll Rand from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Morgan Stanley set a $87.00 target price on Ingersoll Rand in a research note on Monday, August 10th. Barclays reduced their price target on Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Citigroup dropped their price objective on shares of Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $96.14.

Insider Transactions at Ingersoll Rand

In related news, Director Aurobind Satpathy acquired 11,538 shares of Ingersoll Rand stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average cost of $86.68 per share, for a total transaction of $1,000,113.84. Following the acquisition, the director owned 11,538 shares in the company, valued at approximately $1,000,113.84. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.

Ingersoll Rand Trading Up 1.7%

IR opened at $79.93 on Thursday. The stock has a market capitalization of $31.01 billion, a PE ratio of 32.89, a P/E/G ratio of 4.94 and a beta of 1.17. Ingersoll Rand Inc. has a one year low of $68.07 and a one year high of $100.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.62. The business’s 50 day moving average price is $81.99 and its 200 day moving average price is $82.06.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%.The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. As a group, equities research analysts expect that Ingersoll Rand Inc. will post 3.39 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 13th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.29%.

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.