Asio Capital LLC Purchases 7,362 Shares of Ingersoll Rand Inc. $IR

Asio Capital LLC lifted its position in Ingersoll Rand Inc. (NYSE:IR) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,005 shares of the industrial products company’s stock after buying an additional 7,362 shares during the quarter. Asio Capital LLC’s holdings in Ingersoll Rand were worth $4,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IR. Trust Co. of Toledo NA OH lifted its position in Ingersoll Rand by 6,610.0% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 671 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 661 shares during the last quarter. VCI Wealth Management LLC bought a new position in shares of Ingersoll Rand in the third quarter worth about $947,000. Pacer Advisors Inc. lifted its position in shares of Ingersoll Rand by 5.6% during the 3rd quarter. Pacer Advisors Inc. now owns 38,570 shares of the industrial products company’s stock worth $3,187,000 after purchasing an additional 2,058 shares during the last quarter. Inspire Investing LLC bought a new stake in Ingersoll Rand during the 3rd quarter valued at approximately $3,264,000. Finally, Swedbank AB grew its holdings in Ingersoll Rand by 141.1% in the 3rd quarter. Swedbank AB now owns 2,249,353 shares of the industrial products company’s stock valued at $185,842,000 after buying an additional 1,316,375 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Ingersoll Rand from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Robert W. Baird cut their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday. Zacks Research upgraded shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Finally, Wells Fargo & Company increased 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. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.44.

Insider Activity

In related news, CAO Michael J. Scheske sold 1,477 shares of Ingersoll Rand stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $80.63, for a total value of $119,090.51. Following the completion of the transaction, the chief accounting officer directly owned 12,153 shares of the company’s stock, valued at $979,896.39. The trade was a 10.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is owned by corporate insiders.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $81.57 on Friday. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 60.42, a P/E/G ratio of 5.27 and a beta of 1.33. The firm’s 50-day moving average price is $78.69 and its two-hundred day moving average price is $80.73. 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 Inc. has a 1-year low of $65.61 and a 1-year high of $95.85.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced 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 was Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is 5.93%.

Ingersoll Rand Profile

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.