Advisors Asset Management Inc. Sells 12,796 Shares of Ingersoll Rand Inc. $IR

Key Points

• Advisors Asset Management Inc. reduced its holdings in Ingersoll Rand Inc. by 42.7%, selling 12,796 shares to end the first quarter with 17,155 shares valued at approximately $1.37 million.
• Ingersoll Rand reported earnings of $0.80 per share for the last quarter, matching analysts' expectations and reflecting a 4.6% increase in revenue from the same period last year.
• Several analysts have adjusted their price targets for Ingersoll Rand, with Barclays lowering it to $91.00 while Citigroup raised theirs to $104.00, reflecting varying market sentiments on the stock's potential.

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

Several other hedge funds have also recently made changes to their positions in IR. T. Rowe Price Investment Management Inc. raised its stake in shares of Ingersoll Rand by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company's stock valued at $1,426,654,000 after buying an additional 3,989,643 shares during the period. Nuveen LLC bought a new stake in shares of Ingersoll Rand in the first quarter valued at $211,408,000. Price T Rowe Associates Inc. MD raised its stake in shares of Ingersoll Rand by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company's stock valued at $1,536,464,000 after buying an additional 1,849,030 shares during the period. GAMMA Investing LLC raised its stake in shares of Ingersoll Rand by 7,137.0% during the 1st quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after purchasing an additional 1,289,305 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 4.6% during the 1st quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company's stock valued at $1,580,196,000 after purchasing an additional 866,759 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 2.7%

IR stock traded down $2.15 during trading on Friday, hitting $78.87. 3,643,370 shares of the company traded hands, compared to its average volume of 2,497,093. The firm has a market capitalization of $31.35 billion, a PE ratio of 61.62, a P/E/G ratio of 4.57 and a beta of 1.40. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company has a 50-day moving average of $81.93 and a 200-day moving average of $80.51. 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 released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter last year, the business posted $0.83 EPS. The business's revenue was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were issued a $0.02 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is 6.25%.

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the company a "hold" rating in a research note on Monday, August 4th. Morgan Stanley decreased their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Wells Fargo & Company upped their target price on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Robert W. Baird upped their target price on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a research note on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.