Ingersoll Rand Inc. (NYSE:IR), the renowned industrial corporation, continues to solidify its position in the market, encouraging more shareholders to hold onto their stakes.
Mitsubishi UFJ Asset Management Co. Ltd increased their stake, and Apollon Wealth Management LLC and Van Leeuwen & Company LLC have bought substantial shares. On the business front, Ingersoll Rand has recently raised $19M in a financing round for Inkbit to expand multifunctional additive manufacturing. They also acquired Oxywise and Fraserwoods for $26M, enhancing their capital structure.
Q1 2024 earnings have exceeded analyst estimates, even if revenues fell short. IR successfully completed a significant $3300 million senior unsecured bond offering and a new $2600 million senior commitment. Despite some days of underperformance, analysts have issued a 'moderate buy' consensus for IR shares, with Robert W. Baird increasing the price target to $109.00. The company’s growth is also showcased by their five-year ago investment resulting in an impressive 239% gain.
Ingersoll Rand is well set for the future, with several strategic acquisitions, a solid balance sheet, and an eye for sustainable end-markets.
Ingersoll Rand IR News Analytics from Mon, 21 Aug 2023 07:00:00 GMT to Thu, 16 May 2024 18:00:04 GMT -
Rating 8
- Innovation 6
- Information 8
- Rumor -2
