The Manufacturers Life Insurance Company Buys Shares of 178,140 Ingersoll Rand Inc. $IR

The Manufacturers Life Insurance Company purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 178,140 shares of the industrial products company's stock, valued at approximately $14,606,000.

Several other institutional investors have also modified their holdings of the company. Capital International Investors increased its stake in shares of Ingersoll Rand by 4.7% in the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company's stock valued at $4,147,878,000 after purchasing an additional 2,351,781 shares during the period. BlackRock Inc. bought a new stake in shares of Ingersoll Rand during the second quarter valued at approximately $2,484,319,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Ingersoll Rand by 18.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company's stock worth $1,726,308,000 after buying an additional 3,423,501 shares during the period. Capital Research Global Investors boosted its position in shares of Ingersoll Rand by 1.2% during the fourth quarter. Capital Research Global Investors now owns 19,476,801 shares of the industrial products company's stock worth $1,543,017,000 after buying an additional 222,125 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Ingersoll Rand by 8.6% in the 4th quarter. Franklin Resources Inc. now owns 15,641,979 shares of the industrial products company's stock worth $1,239,158,000 after buying an additional 1,237,527 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Price Performance

NYSE IR opened at $78.52 on Friday. Ingersoll Rand Inc. has a 1 year low of $68.07 and a 1 year high of $100.96. The stock has a market capitalization of $30.47 billion, a P/E ratio of 32.31, a P/E/G ratio of 4.97 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.62. The business's fifty day moving average is $82.02 and its two-hundred day moving average is $81.90.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.96 billion. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. The firm's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.39 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be given 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 of this dividend is Thursday, August 13th. Ingersoll Rand's dividend payout ratio is 3.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen downgraded Ingersoll Rand from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Weiss Ratings upgraded shares of Ingersoll Rand from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Robert W. Baird upped their price objective on shares of Ingersoll Rand from $103.00 to $109.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Evercore set a $84.00 target price on shares of Ingersoll Rand in a research report on Monday, May 11th. Finally, Morgan Stanley set a $87.00 target price on shares of Ingersoll Rand in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.14.

Insider Activity

In related news, Director Aurobind Satpathy bought 11,538 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was bought at an average price of $86.68 per share, with a total value of $1,000,113.84. Following the purchase, the director directly owned 11,538 shares of the company's stock, valued at approximately $1,000,113.84. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by company insiders.

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.

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