Ingersoll Rand Inc. (NYSE:IR – Free Report) – Equities researchers at Zacks Research boosted their FY2024 EPS estimates for shares of Ingersoll Rand in a note issued to investors on Thursday, September 14th. Zacks Research analyst E. Haque now expects that the industrial products company will post earnings of $2.74 per share for the year, up from their previous forecast of $2.73. The consensus estimate for Ingersoll Rand’s current full-year earnings is $2.69 per share. Zacks Research also issued estimates for Ingersoll Rand’s Q2 2025 earnings at $0.69 EPS and FY2025 earnings at $2.89 EPS.
A number of other research analysts also recently commented on IR. Morgan Stanley boosted their price target on Ingersoll Rand from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Barclays dropped their price objective on Ingersoll Rand from $76.00 to $74.00 in a research note on Thursday, September 7th. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $65.00 to $71.00 in a research note on Monday, July 10th. Robert W. Baird boosted their price objective on Ingersoll Rand from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Finally, Citigroup increased their target price on Ingersoll Rand from $67.00 to $75.00 in a research note on Monday, July 10th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $69.18.
Ingersoll Rand Trading Down 1.0 %
Shares of Ingersoll Rand stock opened at $65.90 on Monday. The stock has a market capitalization of $26.65 billion, a P/E ratio of 38.31, a price-to-earnings-growth ratio of 2.12 and a beta of 1.43. The company has a quick ratio of 1.62, a current ratio of 2.29 and a debt-to-equity ratio of 0.28. Ingersoll Rand has a 12-month low of $42.20 and a 12-month high of $70.65. The company has a 50-day simple moving average of $67.20 and a 200 day simple moving average of $61.72.
Ingersoll Rand (NYSE:IR – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.11. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.58 billion. Ingersoll Rand had a net margin of 10.89% and a return on equity of 11.20%.
Ingersoll Rand Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, August 23rd will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, August 22nd. Ingersoll Rand’s payout ratio is currently 4.65%.
Insider Buying and Selling
In other news, CFO Vikram Kini sold 169,153 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $69.43, for a total value of $11,744,292.79. Following the transaction, the chief financial officer now owns 47,917 shares of the company’s stock, valued at approximately $3,326,877.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.83% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quintet Private Bank Europe S.A. bought a new position in Ingersoll Rand during the first quarter valued at about $26,000. Lazard Asset Management LLC lifted its position in Ingersoll Rand by 1,566.7% during the 2nd quarter. Lazard Asset Management LLC now owns 450 shares of the industrial products company’s stock worth $29,000 after buying an additional 423 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Ingersoll Rand by 87.0% in the 2nd quarter. Raleigh Capital Management Inc. now owns 475 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 221 shares during the period. Compass Wealth Management LLC acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $32,000. Finally, Field & Main Bank boosted its position in shares of Ingersoll Rand by 42.3% during the 1st quarter. Field & Main Bank now owns 673 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.
About Ingersoll Rand
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
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