Ingersoll Rand Inc. Forecasted to Earn Q3 2024 Earnings of $0.78 Per Share (NYSE:IR)

Ingersoll Rand Inc. (NYSE:IR) – Research analysts at Zacks Research decreased their Q3 2024 EPS estimates for Ingersoll Rand in a research note issued on Wednesday, August 14th. Zacks Research analyst A. Bhattacharjee now anticipates that the industrial products company will post earnings per share of $0.78 for the quarter, down from their previous estimate of $0.79. The consensus estimate for Ingersoll Rand’s current full-year earnings is $3.17 per share.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Barclays lowered their price objective on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 price objective on the stock. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.36.

Ingersoll Rand Price Performance

NYSE IR opened at $91.01 on Friday. Ingersoll Rand 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 1.71. The firm has a market capitalization of $36.72 billion, a PE ratio of 45.28, a P/E/G ratio of 2.68 and a beta of 1.45. The company’s 50 day simple moving average is $93.31 and its 200 day simple moving average is $91.67.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand declared that its board has authorized a share repurchase plan on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,867 shares of company stock valued at $23,494,392. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IR. Ridgewood Investments LLC bought a new position in shares of Ingersoll Rand during the 2nd quarter valued at $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $28,000. Headlands Technologies LLC bought a new position in shares of Ingersoll Rand during the 1st quarter valued at $28,000. Riverview Trust Co bought a new position in shares of Ingersoll Rand during the 1st quarter valued at $29,000. Finally, Scarborough Advisors LLC bought a new position in shares of Ingersoll Rand during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

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.