Swedbank AB Increases Position in Ingersoll Rand Inc. $IR

Swedbank AB increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 141.1% in the third quarter, HoldingsChannel reports. The firm owned 2,249,353 shares of the industrial products company’s stock after buying an additional 1,316,375 shares during the period. Swedbank AB’s holdings in Ingersoll Rand were worth $185,842,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ingersoll Rand in the 2nd quarter worth approximately $397,501,000. Allspring Global Investments Holdings LLC grew its stake in Ingersoll Rand by 8,153.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,614,212 shares of the industrial products company’s stock worth $137,692,000 after buying an additional 1,594,653 shares during the last quarter. Liontrust Investment Partners LLP acquired a new position in Ingersoll Rand during the 2nd quarter valued at about $81,628,000. Vanguard Group Inc. raised its stake in Ingersoll Rand by 1.9% in the second quarter. Vanguard Group Inc. now owns 47,128,533 shares of the industrial products company’s stock valued at $3,920,151,000 after buying an additional 859,062 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in Ingersoll Rand in the second quarter valued at about $60,779,000. Institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 1,477 shares of the company’s 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IR. Citigroup boosted their price target on Ingersoll Rand from $91.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Robert W. Baird lowered 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. Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Zacks Research upgraded shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.44.

Ingersoll Rand Price Performance

NYSE:IR opened at $81.42 on Wednesday. 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 50 day moving average price of $78.48 and a 200-day moving average price of $80.72. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $95.85. The firm has a market cap of $32.17 billion, a price-to-earnings ratio of 60.31, a price-to-earnings-growth ratio of 5.24 and a beta of 1.33.

Ingersoll Rand (NYSE:IR) last released its quarterly 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 net margin of 7.31% and a return on equity of 12.14%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The firm’s quarterly 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. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 13th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, November 13th. Ingersoll Rand’s payout ratio is currently 5.93%.

About Ingersoll Rand

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.