Dimensional Fund Advisors LP increases stake in Ingersoll Rand Inc. (NYSE:IR)

VaselineSeptember 18, 2024

0 4 minutes read

Ingersoll Rand logo Dimensional Fund Advisors LP raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,462,558 shares of the industrial products company’s stock after buying an additional 224,463 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Ingersoll Rand were worth $314,549,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IR. Capital International Investors lifted its position in shares of Ingersoll Rand by 113.7% in the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after buying an additional 13,919,775 shares during the last quarter. Capital World Investors bought a new position in shares of Ingersoll Rand in the first quarter worth approximately $440,401,000. Norges Bank bought a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $301,890,000. JPMorgan Chase & Co. boosted its holdings in Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after purchasing an additional 3,535,543 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Ingersoll Rand by 46.6% in the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after acquiring an additional 3,119,793 shares in the last quarter. Institutional investors own 95.27% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of equities analysts have issued reports on IR shares. Robert W. Baird upped their target price on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays decreased their target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Evercore ISI cut their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $100.00, according to MarketBeat .

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Insider work at Ingersoll Rand

In related news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In related news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 in the last quarter. 0.68% of shares are currently owned by company insiders.

Ingersoll Rand Price Performance

NYSE IR opened at $93.97 on Wednesday. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18, and a quick ratio of 1.52. The firm has a market cap of $37.91 billion, a PE ratio of 46.75, a P/E/G ratio of 2.53 and a beta of 1.42. The company’s 50-day simple moving average is $92.44, and its 200-day simple moving average is $92.16.

Ingersoll Rand (NYSE:IR – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, equities research analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15. This represents a dividend of $0.08 on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Ingersoll Rand Profile

(Free Report)

Ingersoll Rand Inc provides various services and solutions to create the flow of air, gases, liquids and solids for critical missions worldwide. It operates through two segments, Industrial Technologies and Services and Precision Technologies and Science. 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 parts, supplies, air handling equipment, controls, other accessories and services under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle, etc. brands.