Resona Asset Management Co. Ltd. Acquires 7,074 Shares of Ingersoll Rand Inc. $IR

Resona Asset Management Co. Ltd. raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,473 shares of the industrial products company’s stock after purchasing an additional 7,074 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Ingersoll Rand were worth $11,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of IR. NewSquare Capital LLC lifted its position in shares of Ingersoll Rand by 150.7% during the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock worth $28,000 after buying an additional 205 shares during the period. Larson Financial Group LLC raised its stake in Ingersoll Rand by 136.4% during the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 285 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Ingersoll Rand during the first quarter valued at $40,000. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Ingersoll Rand in the 2nd quarter valued at $42,000. Finally, Legacy Wealth Managment LLC ID bought a new stake in shares of Ingersoll Rand in the 1st quarter worth about $43,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $77.50 on Friday. The firm has a fifty day moving average of $79.55 and a two-hundred day moving average of $80.94. The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of 57.41, a PEG ratio of 5.00 and a beta of 1.43. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16.

Ingersoll Rand (NYSE:IR) last posted 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). The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 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 is Thursday, November 13th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.93%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley reduced their price target on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a report on Wednesday, October 8th. Melius lowered Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research report on Monday, July 14th. Barclays cut their price objective on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, Citigroup decreased their target price on Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $96.64.

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.