Asio Capital LLC Purchases 7,362 Shares of Ingersoll Rand Inc. $IR

Asio Capital LLC grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,005 shares of the industrial products company’s stock after purchasing an additional 7,362 shares during the quarter. Asio Capital LLC’s holdings in Ingersoll Rand were worth $4,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Trust Co. of Toledo NA OH lifted its holdings in Ingersoll Rand by 6,610.0% in the third quarter. Trust Co. of Toledo NA OH now owns 671 shares of the industrial products company’s stock valued at $55,000 after buying an additional 661 shares during the period. VCI Wealth Management LLC bought a new stake in shares of Ingersoll Rand during the 3rd quarter valued at $947,000. Pacer Advisors Inc. lifted its stake in shares of Ingersoll Rand by 5.6% in the 3rd quarter. Pacer Advisors Inc. now owns 38,570 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 2,058 shares during the period. Inspire Investing LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter worth $3,264,000. Finally, Swedbank AB grew its stake in shares of Ingersoll Rand by 141.1% during the third quarter. Swedbank AB now owns 2,249,353 shares of the industrial products company’s stock worth $185,842,000 after purchasing an additional 1,316,375 shares during the period. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 1,477 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the transaction, the chief accounting officer owned 12,153 shares in the company, valued at approximately $979,896.39. This represents a 10.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.59% of the company’s stock.

Ingersoll Rand Stock Performance

IR opened at $81.57 on Friday. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 60.42, a P/E/G ratio of 5.27 and a beta of 1.33. The business’s 50-day moving average price is $78.69 and its two-hundred day moving average price is $80.73. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $95.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51.

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 analysts’ consensus estimates of $0.87 by ($0.01). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, November 13th. Ingersoll Rand’s payout ratio is currently 5.93%.

Wall Street Analyst Weigh In

Several research firms have weighed in on IR. Citigroup increased their target price on Ingersoll Rand from $91.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Robert W. Baird cut their price target 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. Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday. Finally, Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.44.

About Ingersoll Rand

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.