The Vanguard Group, Inc. recently announced the acquisition of new stake in Ingersoll Rand Inc. (NYSE:IR). The institutional investor has increased its shareholding in the Industrials company by 1.45% to 43.73 million shares with purchase of 0.63 million shares. This fresh investment now brings its stake to 10.80% valued currently at $2.49 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 1.65 million to 30.46 million shares. And Fidelity Management & Research Co has lifted its position by 63.27% or 6.01 million shares – to 15.51 million shares.
With over 1.65 million Ingersoll Rand Inc. (IR) shares trading Friday and a closing price of $59.76 on the day, the dollar volume was approximately $98.42 million. The shares have shown a positive half year performance of 8.67% and its price on 05/19/23 lost nearly -0.28%. Currently, there are 405.00M common shares owned by the public and among those 404.13M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for IR have a consensus price objective of $66.54. The analysts have set the share’s price value over the next 12 months at a high of $83.00 and a low of $59.50. The average price target is 8.44% above its recent price level and a downside to the estimated low will see the stock lose -0.44% over that period. But an upside of 28.0% will see the stock hit the forecast high price target while median target price for the stock is $65.50.
Insiders at the company have transacted a total of 116 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 61 of these insider trades were purchases, accounting for 495,743 shares. Insider sales of the common stock occurred on 55 occasions, with total insider shares sold totaling 397,927 shares.
The top 3 mutual fund holders in Ingersoll Rand Inc. are Vanguard Total Stock Market ETF, T Rowe Price Mid Cap Growth Fund, and T Rowe Price New Horizons Fund. Vanguard Total Stock Market ETF owns 12.53 million shares of the company’s stock, all valued at over $714.19 million. The company bought an additional 65205.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. T Rowe Price Mid Cap Growth Fund sold 15700.0 shares to see its total holdings shrink to 11.98 million shares valued at over $683.24 million and representing 2.96% of the shares outstanding. T Rowe Price New Horizons Fund sold -1.0 million shares to bring its total holdings to over 10.99 million shares at a value of $626.6 million. T Rowe Price New Horizons Fund now owns shares totaling to 2.71% of the shares outstanding.
Shares of Ingersoll Rand Inc. (NYSE: IR) opened at $60.65, up $0.72 from a prior closing price of $59.93. However, the script later moved the day high at 61.06, down -0.28%. The company’s stock has a 5-day price change of 2.59% and 3.79% over the past three months. IR shares are trading 14.37% year to date (YTD), with the 12-month market performance up to 36.97% higher. It has a 12-month low price of $39.28 and touched a high of $60.39 over the same period. IR has an average intraday trading volume of 2.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.05%, 6.11%, and 12.40% respectively.
Institutional ownership of Ingersoll Rand Inc. (NYSE: IR) shares accounts for 99.11% of the company’s 405.00M shares outstanding. Mutual fund holders own 35.19%, while other institutional holders and individual stakeholders account for 63.61% and 11.35% respectively.
It has a market capitalization of $24.24B and a beta (3y monthly) value of 1.41. The stock’s trailing 12-month PE ratio is 37.89, while the earnings-per-share (ttm) stands at $1.58. The company has a PEG of 3.56 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.97% over the week and 2.22% over the month.
Analysts forecast that Ingersoll Rand Inc. (IR) will achieve an EPS of $0.6 for the current quarter, $0.7 for the next quarter and $2.96 for 2024. The lowest estimate earnings-per-share for the quarter is $0.56 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $0.54 a year ago. Earnings per share for the fiscal year are expected to increase by 16.20%, and 9.15% over the next financial year. EPS should shrink at an annualized rate of 10.63% over the next five years, compared to 57.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Ingersoll Rand Inc. (IR) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 5 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
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