Banque Transatlantique SA Reduces Holdings in Ingersoll Rand Inc. $IR

Key Points

• Banque Transatlantique SA has reduced its stake in Ingersoll Rand Inc. by 66.4%, selling 318,622 shares and still holding 161,032 shares valued at approximately $11.91 million.
• Ingersoll Rand reported earnings of $0.80 per share for the latest quarter, meeting expectations, and revenue increased by 4.6% year-over-year to $1.89 billion.
• The company has announced a quarterly dividend of $0.02 per share, with a record date of August 14th, yielding an annualized 0.1%.

Banque Transatlantique SA trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 66.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,032 shares of the industrial products company's stock after selling 318,622 shares during the period. Banque Transatlantique SA's holdings in Ingersoll Rand were worth $11,910,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Ingersoll Rand by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company's stock worth $3,702,946,000 after purchasing an additional 585,455 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ingersoll Rand by 4.6% during the 1st quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company's stock worth $1,580,196,000 after purchasing an additional 866,759 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Ingersoll Rand by 10.7% during the 1st 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 in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Ingersoll Rand by 28.8% during 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 acquiring an additional 3,989,643 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position 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 during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IR has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of 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. Robert W. Baird raised their target price 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. Citigroup reiterated a "buy" rating and issued a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Barclays decreased 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, Melius Research set a $93.00 price target on shares of Ingersoll Rand in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Down 1.5%

Shares of NYSE:IR traded down $1.25 during mid-day trading on Monday, hitting $79.71. 2,041,577 shares of the company traded hands, compared to its average volume of 2,915,588. The firm has a market cap of $31.68 billion, a P/E ratio of 62.31, a PEG ratio of 4.58 and a beta of 1.40. 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 Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The firm's 50 day simple moving average is $82.51 and its 200 day simple moving average is $80.61.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting 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 the consensus estimate of $1.85 billion. During the same period last year, the business posted $0.83 EPS. The company'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, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

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

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.