Glenview Trust co Has $15.38 Million Stock Position in Ingersoll Rand Inc. $IR

Key Points

• Glenview Trust co increased its stake in Ingersoll Rand Inc. by 2.6%, owning 192,203 shares worth approximately $15.38 million.
• Recent analyst reports show a mix of ratings, with Morgan Stanley lowering its price target to $85.00 while Citigroup increased its target to $104.00, indicating varied market sentiment.
• Ingersoll Rand reported earnings of $0.80 per share for the last quarter, matching analysts' expectations, and had a revenue increase of 4.6% year-over-year.

Glenview Trust co lifted its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,203 shares of the industrial products company's stock after acquiring an additional 4,859 shares during the quarter. Glenview Trust co's holdings in Ingersoll Rand were worth $15,382,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rathbones Group PLC raised its stake in shares of Ingersoll Rand by 1.4% in the 1st quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock worth $724,000 after buying an additional 121 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Ingersoll Rand by 2.4% in the 1st quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company's stock worth $474,000 after buying an additional 136 shares in the last quarter. Compass Wealth Management LLC raised its stake in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after buying an additional 137 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its stake in shares of Ingersoll Rand by 5.3% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,942 shares of the industrial products company's stock worth $235,000 after buying an additional 147 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Ingersoll Rand by 1.5% in the 1st quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock worth $853,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Down 2.7%

Shares of IR traded down $2.15 during trading hours on Friday, hitting $78.87. 3,643,370 shares of the company were exchanged, compared to its average volume of 2,497,093. The company has a market cap of $31.35 billion, a PE ratio of 61.62, a PEG ratio of 4.57 and a beta of 1.40. The firm's 50 day moving average is $81.93 and its 200-day moving average is $80.53. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

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

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus set a $78.00 price target on Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Morgan Stanley dropped their price target on 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. Barclays dropped their price target on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Melius downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a research note on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Company 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.