Q3 2021 EPS Estimates for Ingersoll Rand Inc. (NYSE:IR) Increased by Analyst

Ingersoll Rand Inc. (NYSE:IR) – Jefferies Financial Group boosted their Q3 2021 earnings per share estimates for shares of Ingersoll Rand in a note issued to investors on Monday, September 13th. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will post earnings of $0.48 per share for the quarter, up from their prior estimate of $0.47. Jefferies Financial Group has a “Buy” rating and a $64.00 price target on the stock. Jefferies Financial Group also issued estimates for Ingersoll Rand’s Q4 2021 earnings at $0.52 EPS, FY2021 earnings at $1.77 EPS and FY2022 earnings at $2.17 EPS.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 28th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.49. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Ingersoll Rand had a return on equity of 5.12% and a net margin of 5.91%.

A number of other research firms have also recently commented on IR. Credit Suisse Group lifted their target price on Ingersoll Rand from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, July 30th. Vertical Research raised Ingersoll Rand from a “hold” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $54.00 in a report on Thursday, June 17th. Wolfe Research raised Ingersoll Rand from a “peer perform” rating to an “outperform” rating and boosted their price target for the stock from $56.00 to $61.00 in a research note on Monday, July 12th. Telsey Advisory Group upped their target price on Ingersoll Rand from $100.00 to $110.00 in a research note on Friday, May 21st. Finally, Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 10th. They issued an “overweight” rating and a $60.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $59.13.

Shares of NYSE IR opened at $53.55 on Tuesday. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 69.55 and a beta of 1.52. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.13 and a quick ratio of 2.70. The business has a 50-day moving average of $50.56 and a two-hundred day moving average of $49.56. Ingersoll Rand has a 1 year low of $34.02 and a 1 year high of $55.62.

In other news, insider Sia Abbaszadeh sold 45,000 shares of the stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $50.89, for a total transaction of $2,290,050.00. Following the transaction, the insider now owns 64,957 shares of the company’s stock, valued at $3,305,661.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary E. Gillespie sold 54,975 shares of the stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $52.88, for a total transaction of $2,907,078.00. Following the transaction, the insider now directly owns 75,014 shares in the company, valued at approximately $3,966,740.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,975 shares of company stock valued at $6,847,128. 0.69% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Ingersoll Rand by 1.4% during the second quarter. Vanguard Group Inc. now owns 39,707,239 shares of the industrial products company’s stock worth $1,938,111,000 after acquiring an additional 532,355 shares during the period. BlackRock Inc. raised its stake in Ingersoll Rand by 0.9% during the second quarter. BlackRock Inc. now owns 24,359,226 shares of the industrial products company’s stock worth $1,188,975,000 after acquiring an additional 225,645 shares during the period. JPMorgan Chase & Co. raised its stake in Ingersoll Rand by 52.1% during the second quarter. JPMorgan Chase & Co. now owns 20,213,460 shares of the industrial products company’s stock worth $986,620,000 after acquiring an additional 6,921,391 shares during the period. Artisan Partners Limited Partnership raised its stake in Ingersoll Rand by 52.5% during the second quarter. Artisan Partners Limited Partnership now owns 17,604,777 shares of the industrial products company’s stock worth $859,289,000 after acquiring an additional 6,059,144 shares during the period. Finally, State Street Corp increased its stake in shares of Ingersoll Rand by 1.0% in the second quarter. State Street Corp now owns 14,423,416 shares of the industrial products company’s stock valued at $704,007,000 after purchasing an additional 136,890 shares during the period. 95.51% of the stock is currently owned by institutional investors and hedge funds.

About Ingersoll Rand

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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