Sagespring Wealth Partners LLC Raises Stake in Ingersoll Rand Inc. $IR

Sagespring Wealth Partners LLC raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,195 shares of the industrial products company’s stock after acquiring an additional 205 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Ingersoll Rand were worth $266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB raised its holdings in shares of Ingersoll Rand by 16.5% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 6,822 shares of the industrial products company’s stock valued at $567,000 after acquiring an additional 966 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Ingersoll Rand by 26.0% in the 2nd quarter. Axxcess Wealth Management LLC now owns 4,313 shares of the industrial products company’s stock valued at $359,000 after acquiring an additional 889 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Ingersoll Rand by 23.1% in the 2nd quarter. NorthRock Partners LLC now owns 6,676 shares of the industrial products company’s stock valued at $555,000 after acquiring an additional 1,253 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Ingersoll Rand by 15.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,419 shares of the industrial products company’s stock valued at $534,000 after acquiring an additional 851 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Ingersoll Rand by 8,153.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,614,212 shares of the industrial products company’s stock valued at $137,692,000 after acquiring an additional 1,594,653 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR opened at $77.13 on Friday. The stock’s 50 day simple moving average is $79.84 and its 200 day simple moving average is $80.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The firm has a market cap of $30.65 billion, a price-to-earnings ratio of 60.26, a PEG ratio of 4.61 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $0.83 EPS. Ingersoll Rand’s revenue for the quarter was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. As a group, analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday, October 8th. Citigroup reiterated a “buy” rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird increased their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company increased their price objective on Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Ingersoll Rand 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.