GDS Wealth Management Buys 6,402 Shares of Ingersoll Rand Inc. $IR

GDS Wealth Management boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,079 shares of the industrial products company’s stock after purchasing an additional 6,402 shares during the period. Ingersoll Rand comprises about 1.3% of GDS Wealth Management’s holdings, making the stock its 28th largest holding. GDS Wealth Management owned about 0.06% of Ingersoll Rand worth $19,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IR. Norges Bank bought a new position in shares of Ingersoll Rand in the 2nd quarter valued at $397,501,000. Allspring Global Investments Holdings LLC raised its position in Ingersoll Rand by 8,153.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,614,212 shares of the industrial products company’s stock valued at $137,692,000 after purchasing an additional 1,594,653 shares during the last quarter. Swedbank AB boosted its stake in shares of Ingersoll Rand by 141.1% during the third quarter. Swedbank AB now owns 2,249,353 shares of the industrial products company’s stock valued at $185,842,000 after purchasing an additional 1,316,375 shares in the last quarter. Liontrust Investment Partners LLP acquired a new stake in shares of Ingersoll Rand during the second quarter valued at about $81,628,000. Finally, Vanguard Group Inc. grew its holdings in shares of Ingersoll Rand by 1.9% during the second quarter. Vanguard Group Inc. now owns 47,128,533 shares of the industrial products company’s stock worth $3,920,151,000 after purchasing an additional 859,062 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 191,000 shares of Ingersoll Rand stock in a transaction on 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 completion of the sale, the insider owned 193,186 shares in the company, valued at $17,023,550.32. The trade was a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michael J. Scheske sold 1,477 shares of the business’s 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 transaction, the chief accounting officer owned 12,153 shares in the company, valued at $979,896.39. The trade was a 10.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IR. Citigroup lifted their target price on shares of Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $81.00 to $87.00 and gave the stock a “hold” rating in a report on Friday. Robert W. Baird reduced their price objective on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company raised 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, Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Hold” and an average target price of $92.13.

Ingersoll Rand Stock Performance

Shares of IR opened at $87.15 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $34.43 billion, a P/E ratio of 64.56, a price-to-earnings-growth ratio of 5.51 and a beta of 1.33. The firm’s fifty day simple moving average is $81.32 and its two-hundred day simple moving average is $80.80. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $95.85.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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). 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 the consensus estimate of $1.95 billion. During the same period last year, the business posted $0.84 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

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.