Swedbank AB Has $14.32 Million Stock Position in Ingersoll Rand Inc. $IR

Key Points

• Swedbank AB increased its holdings in Ingersoll Rand Inc. by 9.0%, owning 178,946 shares worth approximately $14.3 million after buying an additional 14,735 shares.
• Several major institutional investors, including T. Rowe Price and GAMMA Investing LLC, have significantly increased their stakes in Ingersoll Rand, with the latter growing its holdings by an impressive 7,137.0%.
• Ingersoll Rand's quarterly earnings matched analysts' expectations with an EPS of $0.80, and the company has a current stock rating of "Hold" with a consensus price target of $97.75.

Swedbank AB lifted its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,946 shares of the industrial products company's stock after acquiring an additional 14,735 shares during the period. Swedbank AB's holdings in Ingersoll Rand were worth $14,321,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in shares of Ingersoll Rand in the first quarter worth approximately $262,000. Concurrent Investment Advisors LLC increased 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 acquiring an additional 385 shares in the last quarter. QRG Capital Management Inc. grew its position in Ingersoll Rand by 9.4% during the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock valued at $614,000 after purchasing an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ingersoll Rand by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock valued at $58,147,000 after purchasing an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in 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 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 Up 0.3%

NYSE IR traded up $0.25 during trading on Friday, reaching $81.78. The company's stock had a trading volume of 13,597,969 shares, compared to its average volume of 2,895,086. 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 has a market capitalization of $32.50 billion, a PE ratio of 63.89, a PEG ratio of 4.60 and a beta of 1.40. The business has a 50-day moving average price of $81.12 and a 200-day moving average price of $80.42. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03.

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

Ingersoll Rand Announces Dividend

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

Analysts Set New Price Targets

IR has been the topic of a number of research analyst reports. Citigroup reaffirmed a "buy" rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Barclays lowered 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. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Stifel Nicolaus set a $78.00 price objective on shares of Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Morgan Stanley lowered 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. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" 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.