Banco Bilbao Vizcaya Argentaria S.A. Decreases Stock Position in Ingersoll Rand Inc. $IR

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. sold 6,478 shares of Ingersoll Rand Inc., reducing its stake by 19.9% during the first quarter.
• Ingersoll Rand's quarterly earnings report showed EPS of $0.80, matching analysts' expectations, with revenue increasing by 4.6% year-over-year, totaling $1.89 billion.
• The company has initiated a $1.00 billion share buyback program, indicating a belief that its shares are undervalued.

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,031 shares of the industrial products company's stock after selling 6,478 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Ingersoll Rand were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Compass Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 137 shares in the last quarter. Global Wealth Strategies & Associates raised its holdings in Ingersoll Rand by 325.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after buying an additional 286 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after buying an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 172 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 285 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on IR. Citigroup reiterated a "buy" rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Barclays reduced their price target 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. Melius downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research report on Monday, July 14th. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Ingersoll Rand has a consensus rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Stock Performance

NYSE:IR traded up $3.1090 on Friday, hitting $80.5590. The stock had a trading volume of 2,184,448 shares, compared to its average volume of 3,453,888. The stock has a market cap of $32.02 billion, a price-to-earnings ratio of 62.94, a price-to-earnings-growth ratio of 4.55 and a beta of 1.41. 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 business's 50-day simple moving average is $83.04 and its two-hundred day simple moving average is $81.34. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03.

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 (EPS) 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 for the quarter, compared to analysts' expectations of $1.85 billion. During the same period last year, the firm posted $0.83 earnings per share. The business's revenue for the quarter was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand announced that its Board of Directors has initiated a stock buyback 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 purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.