Kodai Capital Management LP Invests $37.90 Million in Ingersoll Rand Inc. $IR

Key Points

• Kodai Capital Management LP purchased 473,547 shares of Ingersoll Rand Inc., valued at approximately $37.9 million, making it 1.5% of their investment portfolio.
• Ingersoll Rand's recent earnings report showed $1.89 billion in revenue for the quarter, exceeding analysts' expectations, along with an EPS of $0.80.
• The company announced a quarterly dividend of $0.02 per share, with a planned stock repurchase of up to $1 billion, indicating confidence in its stock value.

Kodai Capital Management LP purchased a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 473,547 shares of the industrial products company's stock, valued at approximately $37,898,000. Ingersoll Rand comprises about 1.5% of Kodai Capital Management LP's portfolio, making the stock its 18th biggest holding. Kodai Capital Management LP owned approximately 0.12% of Ingersoll Rand at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Compass Wealth Management LLC raised its holdings in shares of Ingersoll Rand by 62.8% in the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after acquiring an additional 137 shares during the last quarter. Global Wealth Strategies & Associates raised its holdings in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after acquiring an additional 286 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after acquiring an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 285 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Down 0.5%

IR stock traded down $0.38 during trading on Wednesday, reaching $77.56. 495,168 shares of the stock traded hands, compared to its average volume of 2,913,740. The business's 50 day moving average price is $82.81 and its 200-day moving average price is $80.79. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. The firm has a market capitalization of $30.83 billion, a PE ratio of 60.61, a P/E/G ratio of 4.50 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's dividend payout ratio is presently 6.25%.

Wall Street Analyst Weigh In

IR has been the subject of several analyst reports. Barclays dropped their target price on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Citigroup reiterated a "buy" rating and issued a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Morgan Stanley dropped their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the company a "hold" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company upped their target price on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $97.75.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.