Wealthfront Advisers LLC Buys New Position in Ingersoll Rand Inc. $IR

Wealthfront Advisers LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 28,418 shares of the industrial products company’s stock, valued at approximately $2,330,000.

A number of other large investors have also modified their holdings of the business. Fifth Third Bancorp raised its holdings in shares of Ingersoll Rand by 388.7% in the first quarter. Fifth Third Bancorp now owns 81,961 shares of the industrial products company’s stock worth $6,567,000 after buying an additional 65,189 shares during the last quarter. Strs Ohio increased its position in shares of Ingersoll Rand by 11.2% in the 4th quarter. Strs Ohio now owns 237,624 shares of the industrial products company’s stock valued at $18,825,000 after acquiring an additional 23,974 shares during the period. National Pension Service raised its stake in Ingersoll Rand by 3.0% in the 4th quarter. National Pension Service now owns 636,270 shares of the industrial products company’s stock worth $50,405,000 after acquiring an additional 18,289 shares during the last quarter. Norges Bank acquired a new stake in Ingersoll Rand during the 4th quarter worth about $407,915,000. Finally, Hsbc Holdings PLC lifted its position in Ingersoll Rand by 4.4% during the 1st quarter. Hsbc Holdings PLC now owns 705,454 shares of the industrial products company’s stock worth $56,415,000 after acquiring an additional 29,914 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $79.25 on Friday. Ingersoll Rand Inc. has a 52-week low of $68.07 and a 52-week high of $100.96. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40. The stock has a market cap of $30.75 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.17. The business has a 50-day simple moving average of $81.73 and a 200-day simple moving average of $82.46.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%.Ingersoll Rand’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.39 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, August 13th. Ingersoll Rand’s payout ratio is currently 3.29%.

Insider Activity

In other news, Director Aurobind Satpathy purchased 11,538 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average cost of $86.68 per share, with a total value of $1,000,113.84. Following the completion of the acquisition, the director owned 11,538 shares of the company’s stock, valued at approximately $1,000,113.84. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup cut their price objective on Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Weiss Ratings upgraded Ingersoll Rand from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Stifel Nicolaus upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Monday, August 3rd. Barclays reduced their price target on shares of Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $103.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $96.14.

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.