Ingersoll Rand Inc. $IR Shares Bought by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 849,523 shares of the industrial products company’s stock after acquiring an additional 16,598 shares during the period. Douglas Lane & Associates LLC owned about 0.21% of Ingersoll Rand worth $70,188,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its stake in shares of Ingersoll Rand by 150.7% during the second 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. Heartwood Wealth Advisors LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter valued at about $36,000. Gladwyn Financial Advisors Inc. acquired a new position in Ingersoll Rand during the 2nd quarter worth approximately $42,000. Legacy Wealth Managment LLC ID purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $43,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Ingersoll Rand in the second quarter valued at approximately $45,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the subject of several analyst reports. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 15th. Robert W. Baird dropped their target price 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. Citigroup increased their price target on Ingersoll Rand from $91.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 8th. Finally, Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $91.44.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $979,896.39. This represents a 10.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.59% of the stock is currently owned by insiders.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $79.24 on Friday. The stock has a market capitalization of $31.31 billion, a price-to-earnings ratio of 58.70, a PEG ratio of 5.12 and a beta of 1.33. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $95.85. The company’s 50-day simple moving average is $78.30 and its 200-day simple moving average is $80.74. 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 announced 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 firm had revenue of $1.96 billion for 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 quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.