BLVD Private Wealth LLC Takes $7.34 Million Position in Ingersoll Rand Inc. $IR

BLVD Private Wealth LLC acquired a new stake in shares of 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 (SEC). The firm acquired 88,245 shares of the industrial products company’s stock, valued at approximately $7,340,000. Ingersoll Rand accounts for about 6.9% of BLVD Private Wealth LLC’s holdings, making the stock its 2nd biggest position.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Ingersoll Rand in the 2nd quarter worth $397,501,000. T. Rowe Price Investment Management Inc. grew its holdings in Ingersoll Rand by 28.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after purchasing an additional 3,989,643 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Ingersoll Rand by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock valued at $1,536,464,000 after buying an additional 1,849,030 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Ingersoll Rand by 8,153.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,614,212 shares of the industrial products company’s stock worth $137,692,000 after purchasing an additional 1,594,653 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new position in shares of Ingersoll Rand during the 2nd quarter valued at $81,628,000. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Performance

IR stock opened at $81.74 on Friday. The business’s fifty day simple moving average is $78.35 and its two-hundred day simple moving average is $80.82. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of 60.55, a PEG ratio of 5.28 and a beta of 1.33. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $102.04.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.Ingersoll Rand’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were issued 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 dividend payout ratio is currently 5.93%.

Analysts Set New Price Targets

IR has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, December 8th. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Stifel Nicolaus lifted their price objective on shares of Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Citigroup upped their target price on shares of Ingersoll Rand from $91.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Robert W. Baird decreased their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Hold” and a consensus target price of $91.22.

Insider Buying and Selling at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 1,477 shares of the business’s stock in a transaction on Monday, December 1st. The stock was 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. The trade was a 10.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by insiders.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.