Econ Financial Services Corp Purchases New Shares in Ingersoll Rand Inc. $IR

Econ Financial Services Corp acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the 1st quarter, Holdings Channel reports. The firm acquired 47,513 shares of the industrial products company’s stock, valued at approximately $3,807,000. Ingersoll Rand accounts for about 1.8% of Econ Financial Services Corp’s holdings, making the stock its 22nd biggest position.

A number of other institutional investors have also recently made changes to their positions in the business. Deseret Mutual Benefit Administrators grew its position in Ingersoll Rand by 46.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 112 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $29,000. Reflection Asset Management bought a new position in Ingersoll Rand during the fourth quarter valued at $31,000. Torren Management LLC purchased a new stake in Ingersoll Rand in the 4th quarter worth about $32,000. Finally, Salomon & Ludwin LLC lifted its stake in Ingersoll Rand by 166.9% in the fourth quarter. Salomon & Ludwin LLC now owns 427 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on IR. Robert W. Baird set a $103.00 target price on Ingersoll Rand in a research note on Thursday, April 30th. Barclays cut their price objective on Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.75.

Ingersoll Rand Stock Down 0.2%

Shares of Ingersoll Rand stock opened at $81.52 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.23 and a quick ratio of 1.59. The stock has a market cap of $31.90 billion, a price-to-earnings ratio of 55.08, a PEG ratio of 5.17 and a beta of 1.19. The firm’s 50-day moving average is $75.96 and its two-hundred day moving average is $82.59. Ingersoll Rand Inc. has a 1 year low of $68.07 and a 1 year high of $100.96.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. As a group, research analysts expect that Ingersoll Rand Inc. will post 3.37 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s payout ratio is 5.41%.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 30,492 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $88.00, for a total transaction of $2,683,296.00. Following the completion of the sale, the insider owned 209,534 shares in the company, valued at $18,438,992. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by company insiders.

Ingersoll Rand Company 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.