Allspring Global Investments Holdings LLC Increases Stake in Ingersoll Rand Inc. $IR

Key Points

• Allspring Global Investments Holdings LLC significantly increased its stake in Ingersoll Rand Inc. by 8,153% in Q2, owning over 1.6 million shares valued at approximately $137.7 million.
• Ingersoll Rand reported a net margin of 7.10% and revenue of $1.89 billion for the latest quarter, aligning closely with analysts' estimates.
• The company recently declared a quarterly dividend of $0.02 per share, reflecting an annualized yield of 0.1% and a dividend payout ratio of 6.25%.

Allspring Global Investments Holdings LLC lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 8,153.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,614,212 shares of the industrial products company's stock after acquiring an additional 1,594,653 shares during the period. Allspring Global Investments Holdings LLC owned 0.40% of Ingersoll Rand worth $137,692,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sowell Financial Services LLC purchased a new position in shares of Ingersoll Rand during the 1st quarter worth about $262,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Ingersoll Rand by 14.4% during the 1st 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. raised its holdings in 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 valued at $614,000 after buying an additional 660 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ingersoll Rand by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock valued at $58,147,000 after buying an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position 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 in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 3.1%

Shares of NYSE:IR opened at $76.05 on Monday. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a 50 day moving average of $79.88 and a two-hundred day moving average of $80.30. The company has a market capitalization of $30.23 billion, a price-to-earnings ratio of 59.41, a price-to-earnings-growth ratio of 4.49 and a beta of 1.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting analysts' consensus estimates of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company earned $0.83 earnings per share. The business'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, analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is presently 6.25%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IR. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Barclays dropped their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Citigroup reissued a "buy" rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 price objective on shares of Ingersoll Rand and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Melius Research set a $93.00 price objective 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 six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $98.00.

Ingersoll Rand 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.

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