Bank of America Corp DE Raises Holdings in Ingersoll Rand Inc. $IR

Key Points

• Bank of America increased its Ingersoll Rand stake by 26.2% in the first quarter, adding 518,442 shares to reach 2.50 million shares valued at approximately $199.9 million. Institutional investors collectively own 95.27% of the company.
• Ingersoll Rand reported quarterly revenue of $2.05 billion and earnings of $0.86 per share, surpassing analyst expectations while revenue rose 8.5% year over year. Shares recently traded at $89.32, up 1.8%.
• Analyst sentiment remains a Moderate Buy, with an average price target of $95.14, although some firms have lowered targets or downgraded the stock. The company also declared a quarterly dividend of $0.02 per share, yielding about 0.1%.

Bank of America Corp DE grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,495,248 shares of the industrial products company's stock after acquiring an additional 518,442 shares during the quarter. Bank of America Corp DE owned about 0.64% of Ingersoll Rand worth $199,919,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Capital International Investors grew its stake in Ingersoll Rand by 4.7% during the 4th quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company's stock valued at $4,147,878,000 after purchasing an additional 2,351,781 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Ingersoll Rand by 18.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company's stock worth $1,726,308,000 after buying an additional 3,423,501 shares during the period. Capital Research Global Investors lifted its stake in Ingersoll Rand by 1.2% during the 4th quarter. Capital Research Global Investors now owns 19,476,801 shares of the industrial products company's stock valued at $1,543,017,000 after acquiring an additional 222,125 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Ingersoll Rand by 8.6% in the 4th quarter. Franklin Resources Inc. now owns 15,641,979 shares of the industrial products company's stock valued at $1,239,158,000 after acquiring an additional 1,237,527 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Ingersoll Rand by 0.9% in the 4th quarter. State Street Corp now owns 15,458,763 shares of the industrial products company's stock valued at $1,224,643,000 after acquiring an additional 137,325 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Up 1.8%

Shares of Ingersoll Rand stock opened at $89.32 on Wednesday. The firm has a 50-day simple moving average of $78.70 and a two-hundred day simple moving average of $82.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.62. Ingersoll Rand Inc. has a fifty-two week low of $68.07 and a fifty-two week high of $100.96. The company has a market cap of $34.65 billion, a P/E ratio of 36.76, a price-to-earnings-growth ratio of 5.55 and a beta of 1.17.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%.The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the firm earned $0.80 EPS. The company's quarterly revenue was up 8.5% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.37 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 13th. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.29%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Ingersoll Rand from $92.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, June 3rd. Barclays lowered their price target on shares of Ingersoll Rand from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Stifel Nicolaus raised Ingersoll Rand from a "hold" rating to a "buy" rating and set a $101.00 price target on the stock in a research report on Monday. Weiss Ratings upgraded Ingersoll Rand from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen cut Ingersoll Rand from a "buy" rating to a "hold" rating in a report on Sunday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.14.

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company's products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.

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