Glenview Trust Co Grows Position in Ingersoll Rand Inc. $IR

Key Points

• Glenview Trust Co increased its stake in Ingersoll Rand by 5.5% in the first quarter, adding 17,740 shares and bringing its total holding to 337,553 shares worth about $27.0 million.
• Institutional ownership remains very high, with several large investors recently boosting positions and 95.27% of the stock now held by hedge funds and other institutions.
• Ingersoll Rand reported strong quarterly results, with EPS of $0.77 topping estimates and revenue of $1.85 billion beating forecasts; analysts currently rate the stock a Moderate Buy with an average price target of $91.86.

Glenview Trust Co lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,553 shares of the industrial products company's stock after purchasing an additional 17,740 shares during the quarter. Glenview Trust Co owned 0.09% of Ingersoll Rand worth $27,045,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Ingersoll Rand during the fourth quarter worth $407,915,000. T. Rowe Price Investment Management Inc. increased its holdings in Ingersoll Rand by 18.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company's stock valued at $1,726,308,000 after buying an additional 3,423,501 shares in the last quarter. Capital International Investors raised its position in shares of Ingersoll Rand by 4.7% in the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company's stock worth $4,147,878,000 after acquiring an additional 2,351,781 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Ingersoll Rand during the 4th quarter worth about $149,297,000. Finally, Swedbank AB boosted its stake in shares of Ingersoll Rand by 72.4% during the 4th quarter. Swedbank AB now owns 3,878,349 shares of the industrial products company's stock worth $307,243,000 after acquiring an additional 1,628,996 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 2.4%

IR stock opened at $80.26 on Tuesday. The stock has a market capitalization of $31.41 billion, a P/E ratio of 54.23, a P/E/G ratio of 5.20 and a beta of 1.17. The firm has a 50-day simple moving average of $75.62 and a 200-day simple moving average of $82.55. The company has a quick ratio of 1.59, a current ratio of 2.23 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52 week low of $68.07 and a 52 week high of $100.96.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $0.72 EPS. Ingersoll Rand's quarterly revenue was up 7.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. Equities analysts forecast that Ingersoll Rand Inc. will post 3.37 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, May 14th. Ingersoll Rand's dividend payout ratio (DPR) is 5.41%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IR. Robert W. Baird set a $103.00 price target on Ingersoll Rand in a research note on Thursday, April 30th. Citigroup lowered their price target on Ingersoll Rand from $113.00 to $109.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Morgan Stanley dropped their price objective on Ingersoll Rand from $92.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 3rd. Stifel Nicolaus reduced their target price on Ingersoll Rand from $85.00 to $84.00 and set a "hold" rating for the company in a research note on Monday. Finally, Weiss Ratings lowered Ingersoll Rand from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.86.

About Ingersoll Rand

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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