Ingersoll Rand Inc. $IR Shares Bought by Waycross Partners LLC

Key Points

• Waycross Partners increased its Ingersoll Rand stake by 10.7% in the third quarter, adding 46,196 shares to hold 476,005 shares worth about $35.8 million.
• Ingersoll Rand reported quarterly EPS of $1.07, beating the $0.90 consensus; revenue of $2.06 billion was slightly above estimates and rose 5.6% year over year.
• Analysts’ consensus rating was “Moderate Buy”, with a $95 average price target; five analysts rated the stock Buy and three Hold.

Waycross Partners LLC grew its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 476,005 shares of the industrial products company's stock after acquiring an additional 46,196 shares during the quarter. Ingersoll Rand accounts for about 2.8% of Waycross Partners LLC's investment portfolio, making the stock its 14th largest holding. Waycross Partners LLC owned about 0.12% of Ingersoll Rand worth $35,753,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Alps Advisors Inc. lifted its holdings in shares of Ingersoll Rand by 3.2% in the third quarter. Alps Advisors Inc. now owns 4,492 shares of the industrial products company's stock valued at $337,000 after purchasing an additional 140 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Ingersoll Rand by 6.4% during the first quarter. Chicago Partners Investment Group LLC now owns 2,658 shares of the industrial products company's stock worth $222,000 after buying an additional 160 shares in the last quarter. North Dakota State Investment Board grew its holdings in shares of Ingersoll Rand by 1.4% during the third quarter. North Dakota State Investment Board now owns 11,987 shares of the industrial products company's stock worth $900,000 after buying an additional 165 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in Ingersoll Rand by 5.0% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 3,647 shares of the industrial products company's stock valued at $292,000 after buying an additional 174 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its position in Ingersoll Rand by 6.7% in the 1st quarter. Personal CFO Solutions LLC now owns 2,818 shares of the industrial products company's stock valued at $226,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of Ingersoll Rand in a research report on Monday, October 19th. Wall Street Zen cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Citigroup reiterated a "buy" rating on shares of Ingersoll Rand in a research note on Monday, October 12th. Robert W. Baird cut their price target on shares of Ingersoll Rand from $109.00 to $107.00 and set an "outperform" rating for the company in a report on Monday, November 2nd. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $95.00 price target (up from $93.00) on shares of Ingersoll Rand in a research report on Monday, November 2nd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.00.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded up $1.11 during midday trading on Friday, hitting $82.96. 3,087,310 shares of the company traded hands, compared to its average volume of 4,593,942. Ingersoll Rand Inc. has a 12 month low of $68.07 and a 12 month high of $100.96. The stock has a market cap of $31.86 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 3.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.24 and a current ratio of 1.69. The firm's fifty day moving average price is $76.68 and its 200-day moving average price is $81.16.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.17. Ingersoll Rand had a return on equity of 13.47% and a net margin of 17.20%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company posted $0.86 EPS. Ingersoll Rand's quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.47 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is currently 2.25%.

Ingersoll Rand Profile

Ingersoll Rand Inc NYSE: IR is a global industrial company that designs and manufactures equipment and technologies used to move, manage and control air, gases, fluids and other materials. Its products include air and gas compressors, vacuum and blower systems, pumps, and related components and services.

The company also supplies precision and science technologies for applications such as fluid handling, material processing and life sciences. Its equipment and services support customers across a range of industries, including manufacturing, energy, healthcare and food and beverage.

The modern Ingersoll Rand was formed in 2020 through the combination of Gardner Denver and the industrial business of the former Ingersoll-Rand plc; the Ingersoll Rand name has roots dating to the 19th century.

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