Glenview Trust co Boosts Stake 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 boosted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,203 shares of the industrial products company's stock after purchasing an additional 4,859 shares during the period. Glenview Trust co's holdings in Ingersoll Rand were worth $15,382,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sowell Financial Services LLC purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $262,000. Concurrent Investment Advisors LLC increased its stake in Ingersoll Rand by 14.4% in the 1st 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 during the period. QRG Capital Management Inc. increased its stake in Ingersoll Rand by 9.4% in the 1st 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ingersoll Rand by 14.5% in the 1st 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 during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Ingersoll Rand by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company's stock valued at $15,285,000 after buying an additional 4,690 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Up 1.0%

Ingersoll Rand stock traded up $0.78 during mid-day trading on Monday, hitting $79.57. The company had a trading volume of 1,011,857 shares, compared to its average volume of 2,932,787. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average price is $81.93 and its two-hundred day moving average price is $80.49. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a market capitalization of $31.62 billion, a PE ratio of 62.16, a price-to-earnings-growth ratio of 4.44 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.80 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 business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company's revenue for the quarter 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, sell-side analysts anticipate 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. Stockholders of record on Thursday, August 14th were paid a $0.02 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is currently 6.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IR shares. Barclays reduced their target price on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research note 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. Robert W. Baird lifted their price target on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" 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. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of "Hold" and a consensus 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.