Concurrent Investment Advisors LLC Purchases New Stake in Ingersoll Rand Inc. $IR

Concurrent Investment Advisors LLC acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,873 shares of the industrial products company’s stock, valued at approximately $816,000.

Several other institutional investors and hedge funds have also modified their holdings of IR. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Ingersoll Rand during the 2nd quarter worth about $8,375,000. Fisher Asset Management LLC increased its position in shares of Ingersoll Rand by 0.6% in the second quarter. Fisher Asset Management LLC now owns 6,913,924 shares of the industrial products company’s stock valued at $575,100,000 after buying an additional 38,999 shares in the last quarter. Nordea Investment Management AB lifted its stake in Ingersoll Rand by 12.3% in the 3rd quarter. Nordea Investment Management AB now owns 2,018,638 shares of the industrial products company’s stock valued at $165,811,000 after buying an additional 220,815 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Ingersoll Rand by 26.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 86,865 shares of the industrial products company’s stock valued at $7,177,000 after acquiring an additional 18,151 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Ingersoll Rand by 18.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 41,272 shares of the industrial products company’s stock valued at $3,410,000 after acquiring an additional 6,464 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Citigroup upped their price target on shares of Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, Stifel Nicolaus increased their target price on Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.56.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $88.25 on Friday. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $95.85. The firm’s fifty day moving average price is $80.23 and its 200 day moving average price is $80.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51. The company has a market capitalization of $34.87 billion, a price-to-earnings ratio of 65.37, a price-to-earnings-growth ratio of 5.57 and a beta of 1.33.

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

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, November 13th. Ingersoll Rand’s dividend payout ratio is presently 5.93%.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 1,477 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the transaction, the chief accounting officer directly owned 12,153 shares in the company, valued at approximately $979,896.39. The trade was a 10.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.

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.