Souders Financial Advisors Makes New $212,000 Investment in Ingersoll Rand Inc. $IR

Souders Financial Advisors bought a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the second quarter, Holdings Channel reports. The fund bought 2,548 shares of the industrial products company’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently made changes to their positions in IR. T. Rowe Price Investment Management Inc. boosted its holdings in Ingersoll Rand by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock worth $1,426,654,000 after acquiring an additional 3,989,643 shares in the last quarter. Nuveen LLC bought a new position in Ingersoll Rand in the 1st quarter worth about $211,408,000. Price T Rowe Associates Inc. MD grew its position in Ingersoll Rand by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock valued at $1,536,464,000 after purchasing an additional 1,849,030 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Ingersoll Rand by 8,153.0% during 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 purchasing an additional 1,594,653 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Ingersoll Rand by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock worth $1,580,196,000 after buying an additional 866,759 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday, October 8th. Stifel Nicolaus boosted their price target on Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Robert W. Baird lowered their price target on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday. Morgan Stanley reduced their price objective on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Finally, Melius lowered Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research report on Monday, July 14th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.64.

Ingersoll Rand Stock Down 1.1%

IR opened at $77.57 on Friday. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The firm’s 50 day simple moving average is $79.59 and its two-hundred day simple moving average is $80.89. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $30.65 billion, a PE ratio of 57.46, a PEG ratio of 5.05 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand’s payout ratio is currently 5.93%.

About Ingersoll Rand

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.