What Makes Ingersoll Rand (IR) an Attractive Investment?

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTMX returned -1.13%, Advisor Class fund APDMX posted a return of -1.12%, and Institutional Class fund APHMX returned -1.07%, compared to a return of 6.90% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Partners highlighted stocks like Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter 2022 investor letter. Headquartered in Davidson, North Carolina, Ingersoll Rand Inc. (NYSE:IR) is a mission-critical air, fluid, energy, specialty vehicle, and medical technologies providing company. On January 19, 2023, Ingersoll Rand Inc. (NYSE:IR) stock closed at $53.88 per share. One-month return of Ingersoll Rand Inc. (NYSE:IR) was 3.06%, and its shares lost 5.92% of their value over the last 52 weeks. Ingersoll Rand Inc. (NYSE:IR) has a market capitalization of $21.817 billion.

Artisan Partners made the following comment about Ingersoll Rand Inc. (NYSE:IR) in its Q4 2022 investor letter:

“Ingersoll Rand Inc. (NYSE:IR) is a global market leader in a broad range of mission-critical flow creation technologies (pumps, compressors, etc.) for industrial and medical applications. Recent earnings results beat expectations and revealed record orders and revenues. Management also raised its full-year guidance for 2022, sending shares higher. Notably, orders within its largest segment were up 16% organically, driven by strong growth in compressors vacuums and blowers. We are cognizant of cyclical industrial risks in the quarters ahead but think Ingersoll’s compressed air technologies will remain in demand as customers seek to operate using less energy and water, while generating fewer emissions. We also continue to be impressed by management’s internal execution in areas such as acquisition integration, marketing lead generation, new product development and employee engagement.”

Ingersoll Rand Inc. (NYSE:IR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Ingersoll Rand Inc. (NYSE:IR) at the end of the third quarter, which was 28 in the previous quarter.

We discussed Ingersoll Rand Inc. (NYSE:IR) in another article and shared the list of biggest generator companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.