Ascent Group LLC Makes New Investment in Ingersoll Rand Inc. $IR

Ascent Group LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 13,246 shares of the industrial products company’s stock, valued at approximately $1,094,000.

Several other large investors have also bought and sold shares of the business. Carderock Capital Management Inc. grew its position in shares of Ingersoll Rand by 10.9% in the 3rd quarter. Carderock Capital Management Inc. now owns 62,874 shares of the industrial products company’s stock valued at $5,195,000 after buying an additional 6,192 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Ingersoll Rand in the third quarter worth approximately $213,000. Apollon Wealth Management LLC raised its holdings in shares of Ingersoll Rand by 2.4% in the third quarter. Apollon Wealth Management LLC now owns 10,666 shares of the industrial products company’s stock valued at $881,000 after purchasing an additional 253 shares during the last quarter. Asio Capital LLC grew its holdings in shares of Ingersoll Rand by 15.5% in the third quarter. Asio Capital LLC now owns 55,005 shares of the industrial products company’s stock valued at $4,545,000 after acquiring an additional 7,362 shares in the last quarter. Finally, Trust Co. of Toledo NA OH boosted its holdings in shares of Ingersoll Rand by 6,610.0% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 671 shares of the industrial products company’s stock worth $55,000 after buying an additional 661 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $119,090.51. Following the completion of the sale, the chief accounting officer directly owned 12,153 shares of the company’s stock, valued at $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 is available at this hyperlink. 0.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IR shares. Stifel Nicolaus boosted their price objective on Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Citigroup increased their price objective on Ingersoll Rand from $91.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Zacks Research raised Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.44.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $79.75 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $95.85. The firm has a market capitalization of $31.51 billion, a PE ratio of 59.07, a P/E/G ratio of 4.79 and a beta of 1.33. The company has a 50 day moving average price of $78.84 and a 200-day moving average price of $80.63.

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

Ingersoll Rand Dividend Announcement

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

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.