Czech National Bank Buys 6,085 Shares of Ingersoll Rand Inc. $IR

Key Points

• The Czech National Bank increased its stake in Ingersoll Rand Inc. by 6.6%, acquiring an additional 6,085 shares, bringing its total to 98,620 shares worth approximately $8.2 million.
• Recent analyst ratings show a mixed outlook, with price targets for Ingersoll Rand varying significantly, ranging from Barclays' $91.00 to Morgan Stanley's lower target of $85.00.
• Ingersoll Rand reported earnings of $0.80 per share for Q2, meeting analyst expectations, with quarterly revenue increasing by 4.6% year-over-year, amounting to $1.89 billion.

Czech National Bank raised its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,620 shares of the industrial products company's stock after buying an additional 6,085 shares during the quarter. Czech National Bank's holdings in Ingersoll Rand were worth $8,203,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of Ingersoll Rand in the first quarter worth approximately $262,000. Concurrent Investment Advisors LLC lifted its position in shares of Ingersoll Rand by 14.4% in the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after purchasing an additional 385 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Ingersoll Rand by 9.4% in the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after purchasing an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ingersoll Rand by 14.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock worth $58,147,000 after purchasing an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Ingersoll Rand by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company's stock worth $15,285,000 after purchasing an additional 4,690 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

IR traded up $0.25 during trading on Friday, reaching $81.78. 13,597,969 shares of the company's stock were exchanged, compared to its average volume of 2,895,086. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $81.12 and a 200 day moving average price of $80.39. The company has a market capitalization of $32.50 billion, a P/E ratio of 63.89, a PEG ratio of 4.60 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting analysts' consensus estimates of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. As a group, analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand's payout ratio is currently 6.25%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research report on Monday, July 14th. Morgan Stanley cut their price objective on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a research report on Monday, July 14th. Barclays cut their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Citigroup reaffirmed a "buy" rating and set a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.75.

Ingersoll Rand Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.