Ingersoll Rand Inc. (NYSE:IR – Free Report) – Equities research analysts at Zacks Research upped their Q1 2024 earnings per share estimates for Ingersoll Rand in a report issued on Tuesday, October 3rd. Zacks Research analyst E. Haque now anticipates that the industrial products company will post earnings of $0.64 per share for the quarter, up from their prior estimate of $0.63. The consensus estimate for Ingersoll Rand’s current full-year earnings is $2.67 per share. Zacks Research also issued estimates for Ingersoll Rand’s Q2 2024 earnings at $0.68 EPS, FY2024 earnings at $2.76 EPS, Q2 2025 earnings at $0.72 EPS and FY2025 earnings at $2.95 EPS.
Several other brokerages have also recently commented on IR. Barclays decreased their target price on Ingersoll Rand from $76.00 to $74.00 in a research report on Thursday, September 7th. Morgan Stanley raised their price target on shares of Ingersoll Rand from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Robert W. Baird lifted their target price on shares of Ingersoll Rand from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $76.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Citigroup boosted 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 given a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $69.18.
Ingersoll Rand Stock Up 0.7 %
Shares of Ingersoll Rand stock opened at $63.26 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.29 and a quick ratio of 1.62. The company has a market capitalization of $25.58 billion, a PE ratio of 36.78, a P/E/G ratio of 2.13 and a beta of 1.44. Ingersoll Rand has a 1-year low of $43.57 and a 1-year high of $70.65. The business has a 50-day moving average of $66.77 and a 200-day moving average of $62.37.
Ingersoll Rand (NYSE:IR – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.11. The business had revenue of $1.69 billion during 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%.
Institutional Trading of Ingersoll Rand
Several institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of Ingersoll Rand by 6.3% during the 3rd quarter. International Assets Investment Management LLC now owns 3,716 shares of the industrial products company’s stock valued at $235,000 after buying an additional 221 shares during the last quarter. Barclays PLC boosted its position in Ingersoll Rand by 37.3% during the 2nd quarter. Barclays PLC now owns 548,353 shares of the industrial products company’s stock valued at $35,839,000 after buying an additional 148,891 shares during the period. ST Germain D J Co. Inc. bought a new position in Ingersoll Rand in the second quarter worth about $81,000. Comerica Bank bought a new position in shares of Ingersoll Rand during the second quarter valued at approximately $108,050,000. Finally, Imprint Wealth LLC purchased a new stake in Ingersoll Rand during the 2nd quarter valued at about $1,507,000. 94.54% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CFO Vikram Kini sold 169,153 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 47,917 shares of the company’s stock, valued at $3,326,877.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by company insiders.
Ingersoll Rand Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Wednesday, August 23rd were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Tuesday, August 22nd. Ingersoll Rand’s dividend payout ratio is currently 4.65%.
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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