Ingersoll Rand Inc. $IR Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Ingersoll Rand Inc. by 51.4% during the first quarter, now holding 14,599 shares valued at approximately $1.17 million.
• Citigroup and Wells Fargo recently upgraded their target prices for Ingersoll Rand to $104.00 and $95.00 respectively, indicating a positive outlook from analysts.
• Ingersoll Rand announced a quarterly dividend of $0.02 per share and plans to execute a share buyback program worth $1 billion, reflecting confidence in its stock valuation.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 51.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,599 shares of the industrial products company's stock after selling 15,420 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Ingersoll Rand were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Rathbones Group PLC boosted its position in Ingersoll Rand by 1.4% during the first quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock valued at $724,000 after purchasing an additional 121 shares in the last quarter. Compass Wealth Management LLC boosted its position in Ingersoll Rand by 62.8% during the first 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. Arrow Financial Corp boosted its position in Ingersoll Rand by 0.5% during the fourth quarter. Arrow Financial Corp now owns 32,343 shares of the industrial products company's stock valued at $2,926,000 after purchasing an additional 149 shares in the last quarter. GeoWealth Management LLC boosted its position in Ingersoll Rand by 10.2% during the fourth quarter. GeoWealth Management LLC now owns 1,726 shares of the industrial products company's stock valued at $156,000 after purchasing an additional 160 shares in the last quarter. Finally, CWM LLC boosted its position in Ingersoll Rand by 1.5% during the first quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock valued at $853,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Wells Fargo & Company raised their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Robert W. Baird raised their price target on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Citigroup reissued 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. Finally, Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Six investment 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 presently has an average rating of "Hold" and an average target price of $97.75.

Ingersoll Rand Stock Up 4.0%

NYSE IR traded up $3.1090 during trading on Friday, hitting $80.5590. The company's stock had a trading volume of 2,184,448 shares, compared to its average volume of 3,453,888. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a market cap of $32.02 billion, a PE ratio of 62.94, a P/E/G ratio of 4.55 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. The business's 50 day simple moving average is $83.04 and its 200-day simple moving average is $81.34.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period last year, the business posted $0.83 earnings per share. The company's revenue for the quarter 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. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership 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. Stockholders of record on Thursday, August 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is presently 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.