Zacks Research Weighs in on Ingersoll Rand Inc.’s FY2024 Earnings (NYSE:IR)

Ingersoll Rand Inc. (NYSE:IR) – Equities researchers at Zacks Research reduced their FY2024 EPS estimates for Ingersoll Rand in a research note issued on Wednesday, April 3rd. Zacks Research analyst S. Roy now anticipates that the industrial products company will earn $3.05 per share for the year, down from their previous forecast of $3.06. The consensus estimate for Ingersoll Rand’s current full-year earnings is $3.10 per share. Zacks Research also issued estimates for Ingersoll Rand’s Q4 2025 earnings at $0.94 EPS.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion.

A number of other research analysts also recently issued reports on IR. Citigroup upped their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their target price for the company from $81.00 to $89.00 in a research report on Tuesday, February 20th. BNP Paribas began coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.67.

Ingersoll Rand Stock Performance

Shares of IR opened at $93.50 on Monday. The stock has a 50 day moving average of $90.05 and a 200 day moving average of $77.36. The company has a market capitalization of $37.72 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 3.30 and a beta of 1.44. Ingersoll Rand has a 12 month low of $53.24 and a 12 month high of $96.17. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27.

Institutional Trading of Ingersoll Rand

Several hedge funds have recently added to or reduced their stakes in IR. Horizon Investments LLC boosted its position in Ingersoll Rand by 2.7% during the 2nd quarter. Horizon Investments LLC now owns 5,837 shares of the industrial products company’s stock valued at $382,000 after buying an additional 152 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Ingersoll Rand by 17.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 173 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Ingersoll Rand by 11.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 191 shares during the period. LifePro Asset Management raised its position in Ingersoll Rand by 1.6% during the 3rd quarter. LifePro Asset Management now owns 12,206 shares of the industrial products company’s stock valued at $778,000 after purchasing an additional 192 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in Ingersoll Rand by 4.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock worth $335,000 after buying an additional 193 shares during the period. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock worth $26,374,789 over the last ninety days. 0.83% of the stock is owned by corporate insiders.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is 4.21%.

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.