Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Ingersoll Rand Inc. $IR

Key Points

• Mitsubishi UFJ Asset Management acquired 924,485 shares of Ingersoll Rand, valued at approximately $75.8 million, giving it a 0.24% stake. Institutional investors collectively own 95.27% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $96.14 versus the stock’s reported $80.78 price.
• Ingersoll Rand exceeded quarterly expectations, reporting $0.86 in EPS and $2.05 billion in revenue, while revenue rose 8.5% year over year. The company also declared a quarterly dividend of $0.02 per share.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 924,485 shares of the industrial products company's stock, valued at approximately $75,799,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of Ingersoll Rand at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in shares of Ingersoll Rand by 388.7% in the 1st quarter. Fifth Third Bancorp now owns 81,961 shares of the industrial products company's stock valued at $6,567,000 after purchasing an additional 65,189 shares during the period. Strs Ohio raised its holdings in Ingersoll Rand by 11.2% during the 4th quarter. Strs Ohio now owns 237,624 shares of the industrial products company's stock worth $18,825,000 after buying an additional 23,974 shares during the period. National Pension Service raised its holdings in Ingersoll Rand by 3.0% during the 4th quarter. National Pension Service now owns 636,270 shares of the industrial products company's stock worth $50,405,000 after buying an additional 18,289 shares during the period. Norges Bank bought a new position in Ingersoll Rand in the fourth quarter valued at approximately $407,915,000. Finally, Hsbc Holdings PLC increased its position in shares of Ingersoll Rand by 4.4% during the first quarter. Hsbc Holdings PLC now owns 705,454 shares of the industrial products company's stock worth $56,415,000 after acquiring an additional 29,914 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IR shares. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $90.00 to $88.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Evercore set a $84.00 target price on Ingersoll Rand in a report on Monday, May 11th. Robert W. Baird lifted their price target on Ingersoll Rand from $103.00 to $109.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Barclays cut their price target on Ingersoll Rand from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Finally, Citigroup decreased their price objective on Ingersoll Rand from $113.00 to $109.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.14.

Ingersoll Rand Stock Performance

Shares of IR opened at $80.78 on Wednesday. The stock has a market capitalization of $31.34 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 5.25 and a beta of 1.17. Ingersoll Rand Inc. has a 12 month low of $68.07 and a 12 month high of $100.96. The firm has a fifty day simple moving average of $81.40 and a 200 day simple moving average of $82.56. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 0.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $0.80 EPS. The company's revenue was up 8.5% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. Research analysts forecast that Ingersoll Rand Inc. will post 3.38 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, August 13th. Ingersoll Rand's dividend payout ratio is presently 3.29%.

Insider Buying and Selling

In related news, Director Aurobind Satpathy purchased 11,538 shares of Ingersoll Rand stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average cost of $86.68 per share, with a total value of $1,000,113.84. Following the completion of the transaction, the director owned 11,538 shares of the company's stock, valued at approximately $1,000,113.84. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.49% of the company's stock.

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company's products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source