Resona Asset Management Co. Ltd. Acquires 7,074 Shares of Ingersoll Rand Inc. $IR

Resona Asset Management Co. Ltd. increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 5.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 136,473 shares of the industrial products company’s stock after purchasing an additional 7,074 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Ingersoll Rand were worth $11,376,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Ingersoll Rand by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company’s stock worth $3,702,946,000 after buying an additional 585,455 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Ingersoll Rand by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company’s stock worth $1,580,196,000 after acquiring an additional 866,759 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Ingersoll Rand by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company’s stock worth $1,536,464,000 after acquiring an additional 1,849,030 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Ingersoll Rand by 28.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company’s stock valued at $1,426,654,000 after acquiring an additional 3,989,643 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Ingersoll Rand by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 4,261,123 shares of the industrial products company’s stock worth $341,018,000 after purchasing an additional 307,557 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Melius lowered Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Monday, July 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday, October 8th. Melius Research set a $93.00 price target on Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Finally, Citigroup cut their price objective on shares of Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.64.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $77.50 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16. The stock has a 50 day moving average price of $79.55 and a 200 day moving average price of $80.94. The stock has a market capitalization of $30.62 billion, a PE ratio of 57.41, a price-to-earnings-growth ratio of 5.00 and a beta of 1.43. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03.

Ingersoll Rand (NYSE:IR) last posted 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 company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.93%.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.