ABC Arbitrage SA Takes Position in Ingersoll Rand Inc. $IR

ABC Arbitrage SA purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 33,685 shares of the industrial products company’s stock, valued at approximately $2,802,000.

Several other hedge funds and other institutional investors have also modified their holdings of IR. Rathbones Group PLC increased its position in Ingersoll Rand by 1.4% in the 1st 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 period. EP Wealth Advisors LLC raised its position in shares of Ingersoll Rand by 2.4% during the 1st quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company’s stock worth $474,000 after buying an additional 136 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Ingersoll Rand by 0.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 18,708 shares of the industrial products company’s stock worth $1,556,000 after acquiring an additional 138 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Ingersoll Rand by 5.3% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,942 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 147 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Ingersoll Rand by 14.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,206 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 150 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

NYSE IR opened at $77.18 on Wednesday. The company has a 50 day moving average price of $79.49 and a two-hundred day moving average price of $81.08. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The stock has a market capitalization of $30.50 billion, a PE ratio of 57.17, a price-to-earnings-growth ratio of 4.96 and a beta of 1.43. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47.

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

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is 5.93%.

Analyst Ratings Changes

Several brokerages have commented on IR. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday, October 8th. Citigroup reduced their price objective 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, November 3rd. Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Monday, October 20th. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Finally, Robert W. Baird dropped their price target on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.