9,873 Shares in Ingersoll Rand Inc. $IR Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, HoldingsChannel reports. The firm bought 9,873 shares of the industrial products company’s stock, valued at approximately $816,000.

A number of other hedge funds have also made changes to their positions in the stock. NewSquare Capital LLC grew its position in Ingersoll Rand by 150.7% during the second quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of Ingersoll Rand in the third quarter worth $36,000. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Ingersoll Rand during the second quarter worth $42,000. Legacy Investment Solutions LLC acquired a new stake in Ingersoll Rand during the second quarter valued at $45,000. Finally, Osterweis Capital Management Inc. grew its stake in Ingersoll Rand by 6,210.0% in the second quarter. Osterweis Capital Management Inc. now owns 631 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 621 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup raised their price target on Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Robert W. Baird decreased their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Hold” and a consensus price target of $91.56.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $80.63, for a total value of $119,090.51. Following the completion of the transaction, the chief accounting officer owned 12,153 shares of the company’s stock, valued at $979,896.39. This represents a 10.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.59% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Up 1.1%

IR opened at $88.25 on Friday. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $95.85. The business has a 50 day moving average of $80.23 and a 200-day moving average of $80.78. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 65.37, a P/E/G ratio of 5.57 and a beta of 1.33. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

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

Ingersoll Rand Announces Dividend

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

Ingersoll Rand 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.