Envestnet Asset Management Inc. Purchases 12,547 Shares of Ingersoll Rand Inc. $IR

Envestnet Asset Management Inc. increased its position in Ingersoll Rand Inc. (NYSE:IR) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,113 shares of the industrial products company’s stock after buying an additional 12,547 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Ingersoll Rand worth $22,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Rathbones Group PLC boosted its position in Ingersoll Rand by 1.4% during the first quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company’s stock valued at $724,000 after acquiring an additional 121 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 2.4% in the 1st quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company’s stock worth $474,000 after acquiring an additional 136 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Ingersoll Rand by 0.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 18,708 shares of the industrial products company’s stock worth $1,556,000 after buying an additional 138 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its stake in Ingersoll Rand by 5.3% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,942 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 147 shares during the period. Finally, Opal Wealth Advisors LLC raised its position in Ingersoll Rand by 6.6% in the second quarter. Opal Wealth Advisors LLC now owns 2,553 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IR shares. Robert W. Baird decreased their price objective on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Monday. Barclays lowered their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Melius Research set a $93.00 price objective on Ingersoll Rand in a report on Monday, July 14th. Citigroup lowered their price target on shares of Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating for the company in a research note on Monday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingersoll Rand in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.64.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $77.26 on Wednesday. The company has a market capitalization of $30.53 billion, a price-to-earnings ratio of 57.23, a price-to-earnings-growth ratio of 4.55 and a beta of 1.43. Ingersoll Rand Inc. has a one year low of $65.61 and a one year 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. The company’s 50-day moving average is $79.69 and its 200 day moving average is $80.93.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s payout ratio is 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.