APG Asset Management N.V. Has $55.92 Million Position in Ingersoll Rand Inc. $IR

Key Points

• APG Asset Management N.V. increased its stake in Ingersoll Rand by 242.3% in Q1, owning approximately 0.19% of the company, valued at $55.92 million.
• Ingersoll Rand has recently received several analyst upgrades, with target prices revised as high as $103.00 and currently holds a consensus rating of "Hold" with a price target of $97.75.
• The company has launched a $1.00 billion share repurchase plan and announced a quarterly dividend of $0.02 per share, which highlights its commitment to return capital to shareholders.

APG Asset Management N.V. grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 242.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 754,752 shares of the industrial products company's stock after buying an additional 534,252 shares during the period. APG Asset Management N.V. owned 0.19% of Ingersoll Rand worth $55,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IR. Compass Wealth Management LLC lifted its position in 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 purchasing an additional 137 shares during the period. Global Wealth Strategies & Associates increased its position in shares of Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 286 shares during the period. Golden State Wealth Management LLC increased its position in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 313 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 172 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Ingersoll Rand by 136.4% during the 1st 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 period. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Price Performance

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

Ingersoll Rand (NYSE:IR - Get Free Report) last posted 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 net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the company posted $0.83 EPS. The company'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. Research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

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

Ingersoll Rand Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IR. Citigroup reiterated a "buy" rating and set a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Morgan Stanley lowered their price target 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 cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a research report on Monday, July 14th. Wells Fargo & Company lifted their price target 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, Robert W. Baird lifted their price target 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. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.