Engineers Gate Manager LP Takes $20.61 Million Position in Ingersoll Rand Inc. $IR

Engineers Gate Manager LP purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 251,418 shares of the industrial products company’s stock, valued at approximately $20,614,000.

A number of other hedge funds have also bought and sold shares of the business. Capital International Investors raised its stake in Ingersoll Rand by 4.7% in the 4th 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. California State Teachers Retirement System grew its position in shares of Ingersoll Rand by 6,908.7% during the 2nd quarter. California State Teachers Retirement System now owns 44,276,076 shares of the industrial products company’s stock worth $3,630,195,000 after purchasing an additional 43,644,342 shares in the last quarter. BlackRock Inc. bought a new position in shares of Ingersoll Rand during the second quarter worth approximately $2,484,319,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Ingersoll Rand by 18.6% during the fourth 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 purchasing an additional 3,423,501 shares during the period. Finally, Capital Research Global Investors raised its position 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 valued at $1,543,017,000 after buying an additional 222,125 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Ingersoll Rand from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Morgan Stanley set a $87.00 price objective on Ingersoll Rand in a report on Monday, August 10th. Robert W. Baird upped their target price on Ingersoll Rand from $103.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Wall Street Zen lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Stifel Nicolaus upgraded Ingersoll Rand from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $96.14.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $73.70 on Thursday. Ingersoll Rand Inc. has a 12-month low of $68.07 and a 12-month high of $100.96. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $81.29 and its two-hundred day moving average price is $80.55. The stock has a market cap of $28.59 billion, a PE ratio of 30.33, a P/E/G ratio of 4.72 and a beta of 1.15.

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

Ingersoll Rand Announces Dividend

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

Insider Buying and Selling

In related news, Director Aurobind Satpathy acquired 11,538 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average price of $86.68 per share, with a total value of $1,000,113.84. Following the purchase, the director directly owned 11,538 shares in the company, valued at approximately $1,000,113.84. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is currently owned by insiders.

About Ingersoll Rand

Ingersoll Rand Inc (NYSE:IR) is a global industrial company that provides mission-critical equipment, technologies and services for managing air, gas and fluids. Its offerings are used in manufacturing, energy, transportation, food and beverage, life sciences, chemical processing and other industrial applications.

The company’s products include compressors, vacuum and blower systems, air treatment equipment, pumps, fluid-handling systems, power tools and related aftermarket parts and services.