KLP Kapitalforvaltning AS Has $12.02 Million Position in Ingersoll Rand Inc. $IR

Key Points

• KLP Kapitalforvaltning AS increased its stake in Ingersoll Rand Inc. by 7.4%, owning a total of 144,499 shares valued at approximately $12.02 million as of its latest SEC filing.
• Additionally, 95.27% of Ingersoll Rand's stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Ingersoll Rand's most recent quarterly earnings reported a net margin of 7.10% and a revenue of $1.89 billion, with a year-over-year growth of 4.6%.

KLP Kapitalforvaltning AS grew its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,499 shares of the industrial products company's stock after purchasing an additional 10,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Ingersoll Rand were worth $12,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IR. Compass Wealth Management LLC boosted 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 valued at $28,000 after purchasing an additional 137 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 313 shares in the last quarter. Farmers & Merchants Investments Inc. raised its holdings in Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after buying an additional 172 shares during the last quarter. Larson Financial Group LLC raised its holdings in Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after buying an additional 285 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Ingersoll Rand in the 1st quarter valued at approximately $40,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research reports. Barclays dropped their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Morgan Stanley dropped their price objective on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus set a $78.00 price objective on shares of Ingersoll Rand and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Melius Research set a $93.00 price target on shares of Ingersoll Rand in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of "Moderate Buy" and an average target price of $98.00.

Ingersoll Rand Stock Down 0.4%

Ingersoll Rand stock opened at $81.02 on Thursday. 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 Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The firm has a 50 day moving average price of $79.98 and a two-hundred day moving average price of $80.39. The firm has a market cap of $32.20 billion, a price-to-earnings ratio of 63.30, a PEG ratio of 4.80 and a beta of 1.43.

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

Ingersoll Rand Dividend Announcement

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

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.

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