Zacks Research Reduces Earnings Estimates for Ingersoll Rand

Ingersoll Rand Inc. (NYSE:IR - Free Report) - Stock analysts at Zacks Research decreased their FY2024 earnings per share estimates for Ingersoll Rand in a report released on Monday, February 10th. Zacks Research analyst A. Bhattacharjee now forecasts that the industrial products company will post earnings per share of $3.17 for the year, down from their previous forecast of $3.18. The consensus estimate for Ingersoll Rand's current full-year earnings is $3.20 per share. Zacks Research also issued estimates for Ingersoll Rand's Q4 2024 earnings at $0.80 EPS, Q3 2025 earnings at $0.85 EPS, Q4 2025 earnings at $0.91 EPS, Q1 2026 earnings at $0.76 EPS, Q2 2026 earnings at $0.87 EPS and FY2026 earnings at $3.53 EPS.

Several other equities analysts also recently commented on the company. Robert W. Baird dropped their target price on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Wells Fargo & Company dropped their target price on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Barclays dropped their target price on Ingersoll Rand from $120.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Citigroup dropped their target price on Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus dropped their target price on Ingersoll Rand from $107.00 to $100.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.92.

Ingersoll Rand Price Performance

NYSE:IR traded down $6.76 during trading hours on Wednesday, hitting $85.79. The company's stock had a trading volume of 7,441,849 shares, compared to its average volume of 2,111,534. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company has a market capitalization of $34.58 billion, a P/E ratio of 41.85, a PEG ratio of 3.66 and a beta of 1.43. Ingersoll Rand has a twelve month low of $83.72 and a twelve month high of $106.03. The stock has a fifty day simple moving average of $92.75 and a 200-day simple moving average of $95.18.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.01%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Ingersoll Rand during the fourth quarter worth $429,591,000. Capital International Investors lifted its holdings in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after acquiring an additional 1,606,363 shares during the period. FMR LLC lifted its holdings in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Ingersoll Rand by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company's stock worth $1,110,593,000 after acquiring an additional 679,856 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand's payout ratio is 3.90%.

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.