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Hedge Funds Increase Ingersoll Rand Holdings
Multiple hedge funds have adjusted their holdings in Ingersoll Rand (IR). Bank of Nova Scotia boosted its stake by 33.4%, owning 50,087 shares worth $3.87M. Eagle Asset Management grew its position by 3.2%, now holding 28,044 shares valued at $2.17M. Rafferty Asset Management increased by 5.6%, with 33,953 shares worth $2.63M. CIBC Private Wealth raised its stake by 1.3%, holding 484,303 shares valued at $37.46M. Lastly, Goldman Sachs grew its ownership by 17.5%, now holding 1,779,883 shares worth $137.66M. Overall, institutional investors own 95.27% of the company.
Ingersoll Rand Market Update
IR stock rose 2.0%, opening at $99.94. The company has a market cap of $40.32 billion, P/E ratio of 49.72, and a PEG ratio of 2.75. Its 12-month low is $59.20 and high $101.30.
Recent Earnings Report
On July 31, Ingersoll Rand reported $0.80 EPS for the quarter, exceeding estimates of $0.74, with revenues of $1.81 billion.
Dividend Announcement
The firm paid a quarterly dividend of $0.02 per share on September 5, reflecting an annual yield of 0.08%.
Insider Trading
Insider Andrew R. Schiesl sold 15,381 shares at an average of $89.74 for about $1.38M, while Kathleen M. Keene sold 4,629 shares at $89.99 for $416.56K. Over the past three months, insiders sold shares worth $7.11M.
Analysts Price Targets
Stifel Nicolaus raised its price target to $110, while Evercore ISI lowered it to $88. Barclays set a target of $105, and Wells Fargo cut theirs to $100. Analysts broadly rate IR as a Moderate Buy.
Company Overview
Ingersoll Rand Inc. provides various flow creation technologies. Its segments include Industrial Technologies and Services and Precision and Science Technologies.
See Also
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