Ingersoll Rand Inc. (NYSE:IR) Expected to Earn Q3 2024 Earnings of $0.79 Per Share

Ingersoll Rand Inc. (NYSE:IR) – Analysts at Zacks Research upped their Q3 2024 earnings estimates for shares of Ingersoll Rand in a research note issued to investors on Wednesday, September 18th. Zacks Research analyst A. Bhattacharjee now forecasts that the industrial products company will earn $0.79 per share for the quarter, up from their prior estimate of $0.78. The consensus estimate for Ingersoll Rand’s current full-year earnings is $3.21 per share. Zacks Research also issued estimates for Ingersoll Rand’s FY2026 earnings at $3.70 EPS.

IR has been the topic of several other reports. Stifel Nicolaus lifted their price target 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 reduced their price target on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price target on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Evercore ISI cut their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Robert W. Baird upped their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Ingersoll Rand Price Performance

Shares of IR opened at $96.77 on Monday. The company has a 50 day moving average of $92.46 and a 200-day moving average of $92.28. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $39.04 billion, a P/E ratio of 48.14, a P/E/G ratio of 2.53 and a beta of 1.42. Ingersoll Rand has a twelve month low of $59.20 and a twelve month high of $101.30.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion.

Ingersoll Rand Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand 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 directly owns 100,367 shares in the company, valued at $9,284,951.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the transaction, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock worth $7,108,005 in the last 90 days. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

A number of institutional investors have recently modified their holdings of IR. Greenleaf Trust grew its stake in shares of Ingersoll Rand by 2.0% during the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after buying an additional 118 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after buying an additional 119 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the last quarter. Resonant Capital Advisors LLC increased its position in Ingersoll Rand by 4.2% in the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 133 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Ingersoll Rand by 28.4% during the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds 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.