Allstate Corp Takes $1.20 Million Position in Ingersoll Rand Inc. $IR

Allstate Corp bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the third quarter, HoldingsChannel reports. The firm bought 14,577 shares of the industrial products company’s stock, valued at approximately $1,204,000.

Several other hedge funds have also bought and sold shares of IR. Nordea Investment Management AB boosted its stake in Ingersoll Rand by 12.3% during the third quarter. Nordea Investment Management AB now owns 2,018,638 shares of the industrial products company’s stock valued at $165,811,000 after buying an additional 220,815 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Ingersoll Rand in the 2nd quarter worth approximately $8,375,000. Fisher Asset Management LLC raised its holdings in shares of Ingersoll Rand by 0.6% during the 2nd quarter. Fisher Asset Management LLC now owns 6,913,924 shares of the industrial products company’s stock worth $575,100,000 after acquiring an additional 38,999 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Ingersoll Rand by 26.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 86,865 shares of the industrial products company’s stock valued at $7,177,000 after acquiring an additional 18,151 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Ingersoll Rand by 18.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 41,272 shares of the industrial products company’s stock valued at $3,410,000 after purchasing an additional 6,464 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

IR has been the topic of a number of recent research reports. Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, December 29th. 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. Citigroup increased their price target on shares of Ingersoll Rand from $94.00 to $98.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company boosted their price objective on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Hold” and an average target price of $91.38.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 191,000 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $88.12, for a total value of $16,830,920.00. Following the transaction, the insider directly owned 193,186 shares in the company, valued at $17,023,550.32. This represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 1,477 shares of the firm’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 transaction of $119,090.51. Following the transaction, the chief accounting officer directly owned 12,153 shares in the company, valued at approximately $979,896.39. This trade represents a 10.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.59% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR stock opened at $89.79 on Thursday. The stock has a 50 day moving average price of $80.86 and a 200 day moving average price of $80.80. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $95.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16. The firm has a market capitalization of $35.48 billion, a P/E ratio of 66.51, a P/E/G ratio of 5.38 and a beta of 1.33.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data 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). Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the company earned $0.84 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

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.