Avanza Fonder AB Sells 12,831 Shares of Ingersoll Rand Inc. $IR

Key Points

• Avanza Fonder AB has reduced its holdings in Ingersoll Rand Inc. by 42.6%, selling 12,831 shares, and now owns 17,304 shares valued at approximately $1,439,000.
• Ingersoll Rand recently reported quarterly earnings of $0.80 per share, meeting analyst expectations, with a revenue of $1.89 billion, exceeding projections.
• The company has a current dividend yield of 0.1%, following a recently declared quarterly dividend of $0.02 per share.

Avanza Fonder AB lowered its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 42.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,304 shares of the industrial products company's stock after selling 12,831 shares during the period. Avanza Fonder AB's holdings in Ingersoll Rand were worth $1,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IR. Vanguard Group Inc. increased its stake in shares of Ingersoll Rand by 1.3% in the first quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company's stock worth $3,702,946,000 after buying an additional 585,455 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Ingersoll Rand by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company's stock valued at $1,580,196,000 after acquiring an additional 866,759 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Ingersoll Rand by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company's stock worth $1,536,464,000 after purchasing an additional 1,849,030 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in 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 worth $1,426,654,000 after purchasing an additional 3,989,643 shares during the period. Finally, Wellington Management Group LLP raised its stake in Ingersoll Rand by 7.8% during the first quarter. Wellington Management Group LLP now owns 4,261,123 shares of the industrial products company's stock worth $341,018,000 after acquiring an additional 307,557 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IR has been the topic of a number of analyst reports. Robert W. Baird upped their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Citigroup reaffirmed a "buy" rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the stock a "hold" rating in a research note on Monday, August 4th. Melius Research set a $93.00 price objective on Ingersoll Rand in a report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.75.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded up $0.21 during midday trading on Monday, hitting $81.82. The company's stock had a trading volume of 3,649,770 shares, compared to its average volume of 3,465,762. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The firm has a market cap of $32.52 billion, a P/E ratio of 63.92, a P/E/G ratio of 4.60 and a beta of 1.40. The firm's fifty day moving average price is $81.00 and its 200-day moving average price is $80.34. 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 announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The firm'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. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

About Ingersoll Rand

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.