Ameriprise Financial Inc. Cuts Stock Holdings in Ingersoll Rand Inc. $IR

Key Points

• Ameriprise Financial Inc. has reduced its holdings in Ingersoll Rand by 13.9%, selling 332,060 shares, now owning a total of 2,049,241 shares valued at approximately $164 million.
• Ingersoll Rand's stock has received multiple analyst upgrades, with target prices raised to as high as $104.00 from various analysts, reflecting growing investor confidence.
• The company recently announced a quarterly dividend of $0.02 per share, with plans for a $1 billion stock repurchase program as an indication of management's belief that the stock is undervalued.

Ameriprise Financial Inc. lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 13.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,049,241 shares of the industrial products company's stock after selling 332,060 shares during the period. Ameriprise Financial Inc. owned 0.51% of Ingersoll Rand worth $164,001,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IR. NewEdge Advisors LLC boosted its holdings in shares of Ingersoll Rand by 25.6% in the 4th quarter. NewEdge Advisors LLC now owns 5,886 shares of the industrial products company's stock valued at $532,000 after purchasing an additional 1,198 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Ingersoll Rand by 6.6% in the 4th quarter. MML Investors Services LLC now owns 52,436 shares of the industrial products company's stock valued at $4,743,000 after acquiring an additional 3,248 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Ingersoll Rand by 8.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 7,910 shares of the industrial products company's stock valued at $716,000 after purchasing an additional 592 shares during the period. Stifel Financial Corp increased its position in Ingersoll Rand by 3.4% in the 4th quarter. Stifel Financial Corp now owns 147,062 shares of the industrial products company's stock valued at $13,303,000 after buying an additional 4,830 shares in the last quarter. Finally, MGO One Seven LLC increased its position in Ingersoll Rand by 18.1% in the 4th quarter. MGO One Seven LLC now owns 3,426 shares of the industrial products company's stock valued at $310,000 after buying an additional 524 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Trading Down 0.5%

NYSE IR traded down $0.39 during trading on Wednesday, hitting $80.74. 1,693,181 shares of the company's stock traded hands, compared to its average volume of 2,948,161. The stock has a fifty day moving average of $83.01 and a two-hundred day moving average of $81.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The firm has a market cap of $32.09 billion, a P/E ratio of 63.08, a PEG ratio of 4.50 and a beta of 1.41.

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

Ingersoll Rand announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

IR has been the subject of a number of analyst reports. Robert W. Baird lifted their price target on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Melius cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a report on Monday, July 14th. Barclays lowered their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Hold" and a consensus 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.