Norges Bank Makes New Investment in Ingersoll Rand Inc. $IR

Key Points

• Norges Bank opened a new position in Ingersoll Rand during the fourth quarter, buying 5.15 million shares worth about $407.9 million and ending with roughly 1.30% ownership of the company.
• Ingersoll Rand’s latest quarterly results topped expectations, with EPS of $0.77 versus the $0.74 consensus and revenue of $1.85 billion, up 7.6% year over year.
• The stock was trading around $71.15, well below its 52-week high, while analysts were mixed: the overall rating was Hold with an average target price of $93.38.

Norges Bank purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,149,142 shares of the industrial products company's stock, valued at approximately $407,915,000. Norges Bank owned approximately 1.30% of Ingersoll Rand at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IR. AQR Capital Management LLC raised its position in shares of Ingersoll Rand by 12.7% during the 1st quarter. AQR Capital Management LLC now owns 37,078 shares of the industrial products company's stock worth $2,904,000 after buying an additional 4,167 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Ingersoll Rand by 4.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company's stock worth $494,000 after buying an additional 282 shares in the last quarter. Empowered Funds LLC raised its position in shares of Ingersoll Rand by 6.2% during the 1st quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company's stock worth $619,000 after buying an additional 454 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Ingersoll Rand during the 1st quarter worth about $643,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Ingersoll Rand by 663.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 74,615 shares of the industrial products company's stock worth $6,206,000 after buying an additional 64,838 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 30,492 shares of the business's stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $88.00, for a total transaction of $2,683,296.00. Following the transaction, the insider directly owned 209,534 shares of the company's stock, valued at approximately $18,438,992. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IR. Weiss Ratings restated a "hold (c)" rating on shares of Ingersoll Rand in a research report on Friday, March 27th. Evercore set a $84.00 target price on shares of Ingersoll Rand in a report on Monday, May 11th. Barclays dropped their target price on shares of Ingersoll Rand from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Citigroup dropped their target price on shares of Ingersoll Rand from $113.00 to $109.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Finally, Robert W. Baird set a $103.00 target price on shares of Ingersoll Rand in a report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $93.38.

Ingersoll Rand Stock Down 0.7%

IR stock opened at $71.15 on Tuesday. Ingersoll Rand Inc. has a 52-week low of $68.07 and a 52-week high of $100.96. The company's 50 day simple moving average is $78.44 and its 200-day simple moving average is $82.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.23 and a quick ratio of 1.59. The firm has a market capitalization of $27.84 billion, a P/E ratio of 48.07, a P/E/G ratio of 4.53 and a beta of 1.20.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.37 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand's payout ratio is presently 5.41%.

Ingersoll Rand Profile

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.

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