Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 33,267 shares of the industrial products company's stock, valued at approximately $2,728,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in Ingersoll Rand by 12.7% in the 1st quarter. AQR Capital Management LLC now owns 37,078 shares of the industrial products company's stock worth $2,904,000 after purchasing an additional 4,167 shares in the last quarter. NewEdge Advisors LLC raised its stake in Ingersoll Rand by 4.8% in the 1st quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company's stock valued at $494,000 after acquiring an additional 282 shares during the period. Empowered Funds LLC lifted its stake in shares of Ingersoll Rand by 6.2% during the 1st quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company's stock valued at $619,000 after buying an additional 454 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Ingersoll Rand during the first quarter worth $643,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Ingersoll Rand by 663.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 74,615 shares of the industrial products company's stock valued at $6,206,000 after buying an additional 64,838 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.
Ingersoll Rand Stock Performance
NYSE:IR opened at $78.52 on Friday. 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 Inc. has a 12-month low of $68.07 and a 12-month high of $100.96. The stock has a 50-day moving average price of $82.02 and a 200 day moving average price of $81.90. The stock has a market capitalization of $30.47 billion, a P/E ratio of 32.31, a P/E/G ratio of 4.97 and a beta of 1.17.
Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, July 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%.The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The business's revenue was up 8.5% compared to the same quarter last year. 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 EPS for the current fiscal year.
Ingersoll Rand Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a $0.02 dividend. The ex-dividend date is Thursday, August 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 presently 3.29%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. Robert W. Baird boosted their target price on Ingersoll Rand from $103.00 to $109.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Evercore set a $84.00 price target on Ingersoll Rand in a research report on Monday, May 11th. Wall Street Zen cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Weiss Ratings upgraded shares of Ingersoll Rand from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 21st. Finally, Stifel Nicolaus raised Ingersoll Rand from a "hold" rating to a "buy" rating and set a $101.00 target price on the stock in a report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.14.
Read Our Latest Stock Report on IR
Insiders Place Their Bets
In related news, Director Aurobind Satpathy purchased 11,538 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was purchased at an average price of $86.68 per share, with a total value of $1,000,113.84. Following the completion of the purchase, the director owned 11,538 shares of the company's stock, valued at approximately $1,000,113.84. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.49% of the stock is owned by insiders.
About Ingersoll Rand
(
Free Report)
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.
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