Archon Partners LLC Has $6.65 Million Stock Position in Ingersoll Rand Inc. $IR

Archon Partners LLC increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 384.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,000 shares of the industrial products company’s stock after acquiring an additional 63,500 shares during the period. Archon Partners LLC’s holdings in Ingersoll Rand were worth $6,654,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC raised its stake 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 purchasing an additional 205 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Ingersoll Rand in the first quarter valued at $40,000. Gladwyn Financial Advisors Inc. acquired a new position in Ingersoll Rand during the second quarter worth $42,000. Legacy Wealth Managment LLC ID bought a new stake in Ingersoll Rand during the first quarter worth $43,000. Finally, SouthState Corp raised its position in Ingersoll Rand by 279.9% during the first quarter. SouthState Corp now owns 547 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 403 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 13th. Wells Fargo & Company lifted their price target on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Stifel Nicolaus upped their price objective on Ingersoll Rand from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Monday, October 20th. Citigroup raised their price objective on Ingersoll Rand from $91.00 to $94.00 and gave the company a “buy” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $94.20.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 1,477 shares of Ingersoll Rand stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the sale, the chief accounting officer directly owned 12,153 shares in the company, valued at $979,896.39. This trade represents a 10.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $78.41 on Wednesday. The company has a 50 day moving average of $78.46 and a 200-day moving average of $80.81. The company has a market cap of $30.98 billion, a PE ratio of 58.08, a price-to-earnings-growth ratio of 5.12 and a beta of 1.33. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $103.17. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share 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 analyst estimates of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $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 forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio is currently 5.93%.

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.