Allstate Corp Acquires New Shares in Ingersoll Rand Inc. $IR

Allstate Corp bought a new position in Ingersoll Rand Inc. (NYSE:IR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,577 shares of the industrial products company’s stock, valued at approximately $1,204,000.

Several other hedge funds have also recently modified their holdings of IR. NewSquare Capital LLC boosted its position 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 valued at $28,000 after buying an additional 205 shares during 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. bought a new stake in shares of Ingersoll Rand in the second quarter worth approximately $42,000. Legacy Investment Solutions LLC purchased a new position in shares of Ingersoll Rand during the second quarter valued at approximately $45,000. Finally, Osterweis Capital Management Inc. lifted its position in Ingersoll Rand by 6,210.0% during the second quarter. Osterweis Capital Management Inc. now owns 631 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 621 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction on Monday, December 1st. The shares were 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 owned 12,153 shares of the company’s stock, valued at approximately $979,896.39. This represents a 10.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 191,000 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $88.12, for a total value of $16,830,920.00. Following the sale, the insider directly owned 193,186 shares in the company, valued at approximately $17,023,550.32. This represents a 49.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.59% of the company’s stock.

Ingersoll Rand Trading Up 5.4%

Ingersoll Rand stock opened at $89.79 on Thursday. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $95.85. The firm has a market capitalization of $35.48 billion, a price-to-earnings ratio of 66.51, a P/E/G ratio of 5.38 and a beta of 1.33. The firm has a 50 day moving average of $80.86 and a 200 day moving average of $80.80. 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 issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share 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 analysts’ expectations of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. Ingersoll Rand’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Citigroup increased their price target on Ingersoll Rand from $94.00 to $98.00 and gave the company a “buy” rating in a report on Monday, January 12th. Zacks Research raised Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Finally, Stifel Nicolaus boosted their price target on Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $91.38.

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.