2024-04-04 08:43:56 ET
Summary
- Ingersoll Rand's shares are trading near all-time highs as the company has rapidly built up a great track record.
- The company has experienced significant growth in sales and operating margins, driven by its innovative air, fluid, energy, and medical technologies.
- Ingersoll Rand has announced a $2.325 billion cash deal to acquire ILC Dover, a designer and producer of solutions for biopharmaceutical and medical device markets, as a decent bolt-on deal.
- Despite this nice acquisition, overall valuations have run a bit high, too high to get involved here.
Shares of Ingersoll Rand ( IR ) have seen solid returns as of late, with shares trading near their all-time highs. This observation and an interesting deal are sufficient reasons to update a thesis which goes back to spring of 2019....
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