Advisors Asset Management Inc. Decreases Position in Ingersoll Rand Inc. $IR

Advisors Asset Management Inc. decreased its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 42.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,155 shares of the industrial products company's stock after selling 12,796 shares during the period. Advisors Asset Management Inc.'s holdings in Ingersoll Rand were worth $1,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sowell Financial Services LLC bought a new stake in shares of Ingersoll Rand in the first quarter worth $262,000. Concurrent Investment Advisors LLC grew its holdings in shares of Ingersoll Rand by 14.4% in the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after acquiring an additional 385 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Ingersoll Rand by 9.4% in the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after acquiring an additional 660 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ingersoll Rand by 14.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock worth $58,147,000 after acquiring an additional 91,777 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Ingersoll Rand by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company's stock worth $15,285,000 after acquiring an additional 4,690 shares during the period. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded up $0.49 during trading hours on Wednesday, hitting $80.15. The company's stock had a trading volume of 2,742,784 shares, compared to its average volume of 2,466,775. The business has a 50 day moving average price of $82.21 and a two-hundred day moving average price of $80.57. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The company has a market cap of $31.85 billion, a PE ratio of 62.61, a PEG ratio of 4.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

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

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, August 14th. Ingersoll Rand's payout ratio is currently 6.25%.

Analyst Upgrades and Downgrades

IR has been the subject of several research analyst reports. Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Morgan Stanley lowered their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Melius Research set a $93.00 target price on Ingersoll Rand in a research report on Monday, July 14th. Wells Fargo & Company lifted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Citigroup reiterated a "buy" rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of "Hold" and an average target price of $97.75.

Ingersoll Rand Company Profile

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.