BlackRock Fund Advisors has recently announced that it has increased stake in Ingersoll-Rand Inc (NYSE:IR) by 0.87%. After grabbing 19.3 million shares, the institutional investor is now in possession of 0.17 million shares of the Industrials Company. The new investment brought the stake of investor firm to 4.77% having worth around $1.49 billion. Moreover, Fidelity Management & Research Co increased its share by 0.41 million to have a control over 15.87 million shares. And Massachusetts Financial Services raised its holdings to 13665.0 shares by acquiring 9.7 million shares or 2.40% of the stake.
Ingersoll-Rand Inc (IR) concluded trading on Wednesday at a closing price of $78.84, with 4.09 million shares of worth about $322.81 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 21.16% during that period and On Wednesday, January 24 the price saw a loss of about -0.47%. Currently the company’s common shares owned by public are about 405.12M shares, out of which, 403.91M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 114 times over the past 12 months. They bought 752,545 shares in 59 of the transactions. In 55 selling transactions, insiders dumped 651,192 shares.
Vanguard Total Stock Market ETF, T Rowe Price Capital Appreciation, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Ingersoll-Rand Inc Vanguard Total Stock Market ETF is currently holding 12.74 million shares of worth totaling $985.19 million. The company recently came buying 75030.0 shares which brought its stake up to 3.15% of the company’s outstanding shares. T Rowe Price Capital Appreciation sold -0.26 million shares, after which its hold over company’s outstanding shares shrunk to 2.47%, leaving 9.99 million shares with the mutual fund that have a worth of about $772.58 million. Vanguard 500 Index Fund, after buying 9.89 million shares, have now control over 2.44% of the stake in the company. It holds 32048.0 shares of worth $764.57 million.
However, the stock later moved at a day high price of 79.83, or with a loss of -0.47%. Stock saw a price change of 1.79% in past 5 days and over the past one month there was a price change of 4.01%. Year-to-date (YTD), IR shares are showing a performance of 1.94% which increased to 41.06% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $51.84 but also hit the highest price of $79.52 during that period. The average intraday trading volume for Ingersoll-Rand Inc shares is 2.50 million. The stock is currently trading 2.25% above its 20-day simple moving average (SMA20), while that difference is up 6.60% for SMA50 and it goes to 19.89% higher than SMA200.
BlackRock Fund Advisors acquired 19.3 million shares of Ingersoll-Rand Inc having value of about $1.49 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.17 million shares in the company valued at close to $13058978.76, or have control over 0.87% stake in the company. Ingersoll-Rand Inc (NYSE: IR) currently have 405.12M outstanding shares and institutions hold larger chunk of about 97.12% of that. Holding of mutual funds in the company is about 35.08% while other institutional holders and individual stake holders have control over 63.14% and 11.35% of the stake respectively.
The stock has a current market capitalization of $31.91B and its 3Y-monthly beta is at 1.43. PE ratio of stock for trailing 12 months is 42.06, while it has posted earnings per share of $1.87 in the same period. Its PEG reads 3.09 and has Quick Ratio of 1.60 while making debt-to-equity ratio of 0.29. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IR, volatility over the week remained 1.35% while standing at 1.47% over the month.
Analysts are in expectations that Ingersoll-Rand Inc (IR) stock would likely to be making an EPS of $0.77 in the current quarter, while forecast for next quarter EPS is $0.69 and it is $3.17 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.74 which is $0.79 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.72 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 21.70% while it is estimated to increase by 9.15% in next year. EPS is likely to shrink at an annualized rate of 13.62% for next 5-years, compared to annual growth of 71.44% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on October 24, 2023 offering a Buy rating for the stock and assigned a target price of $73 to it.
