Bank of America Corp DE Buys New Shares in Ingersoll Rand Inc. $IR

Key Points

• Bank of America acquired 2.49 million shares of Ingersoll Rand during the second quarter, valued at approximately $204.3 million, giving it a 0.64% stake. Institutional investors collectively own 95.27% of the company.
• Ingersoll Rand’s latest quarterly results exceeded expectations, with EPS of $0.86 versus the $0.83 consensus and revenue of $2.05 billion, up 8.5% year over year.
• Analysts maintain a generally positive outlook, assigning the stock a “Moderate Buy” consensus rating and an average price target of $96.14, compared with its reported trading price of $71.56.

Bank of America Corp DE bought a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,492,117 shares of the industrial products company's stock, valued at approximately $204,329,000. Bank of America Corp DE owned 0.64% of Ingersoll Rand as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bell Investment Advisors Inc purchased a new position in Ingersoll Rand in the 2nd quarter worth approximately $26,000. Deseret Mutual Benefit Administrators grew its stake in shares of Ingersoll Rand by 46.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company's stock worth $28,000 after buying an additional 112 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of Ingersoll Rand in the 4th quarter worth about $29,000. Reflection Asset Management purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $31,000. Finally, Axiom Investment Management LLC bought a new stake in Ingersoll Rand during the first quarter worth approximately $37,000. 95.27% of the stock is owned by institutional investors.

Insider Transactions at Ingersoll Rand

In other news, Director Aurobind Satpathy bought 11,538 shares of the stock in a transaction on Monday, August 3rd. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $1,000,113.84. Following the acquisition, the director owned 11,538 shares of the company's stock, valued at $1,000,113.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IR. Weiss Ratings upgraded Ingersoll Rand from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 21st. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $103.00 to $109.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Morgan Stanley set a $87.00 target price on shares of Ingersoll Rand in a report on Monday, August 10th. Finally, Stifel Nicolaus upgraded shares of Ingersoll Rand from a "hold" rating to a "buy" rating and set a $101.00 price target on the stock in a report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.14.

Ingersoll Rand Trading Down 0.5%

NYSE IR opened at $71.56 on Thursday. The stock has a market cap of $27.77 billion, a PE ratio of 29.45, a PEG ratio of 4.52 and a beta of 1.15. Ingersoll Rand Inc. has a 12 month low of $68.07 and a 12 month high of $100.96. The company's 50-day moving average price is $80.57 and its 200-day moving average price is $79.78. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 0.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.96 billion. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. The firm's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.39 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand's dividend payout ratio is 3.29%.

Ingersoll Rand Profile

Ingersoll Rand Inc NYSE: IR is a global industrial company that provides mission-critical equipment, technologies and services for managing air, gas and fluids. Its offerings are used in manufacturing, energy, transportation, food and beverage, life sciences, chemical processing and other industrial applications.

The company's products include compressors, vacuum and blower systems, air treatment equipment, pumps, fluid-handling systems, power tools and related aftermarket parts and services.

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