Ingersoll Rand Inc. $IR Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Ingersoll Rand Inc. by 142.1%, acquiring an additional 140,795 shares, bringing their total to 239,904 shares worth approximately $19.2 million.
• Ingersoll Rand reported $0.80 EPS for the most recent quarter, meeting expectations, and their quarterly revenue of $1.89 billion exceeded analyst projections.
• The company announced a quarterly dividend of $0.02 per share, which translates to an annualized yield of 0.1%, with the dividend to be paid on September 4th.

Canada Pension Plan Investment Board boosted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 142.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,904 shares of the industrial products company's stock after purchasing an additional 140,795 shares during the quarter. Canada Pension Plan Investment Board owned about 0.06% of Ingersoll Rand worth $19,200,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Ingersoll Rand by 1.3% in 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 acquiring an additional 585,455 shares in the last quarter. JPMorgan Chase & Co. raised 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 buying an additional 866,759 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Ingersoll Rand by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company's stock valued at $1,536,464,000 after buying an additional 1,849,030 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake 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 valued at $1,426,654,000 after buying an additional 3,989,643 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Ingersoll Rand by 7.8% in the first quarter. Wellington Management Group LLP now owns 4,261,123 shares of the industrial products company's stock valued at $341,018,000 after buying an additional 307,557 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Up 2.2%

Shares of NYSE:IR traded up $1.72 during trading on Friday, hitting $80.92. 3,149,678 shares of the company were exchanged, compared to its average volume of 2,271,512. The stock has a market capitalization of $32.16 billion, a P/E ratio of 63.22, a PEG ratio of 4.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The firm's 50 day moving average price is $82.51 and its 200-day moving average price is $80.65.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. Ingersoll Rand's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, research analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders 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 dividend yield of 0.1%. The ex-dividend date was Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is presently 6.25%.

Wall Street Analyst Weigh In

IR has been the topic of a number of research reports. Robert W. Baird increased their price objective on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research note on Monday, July 14th. Citigroup reissued a "buy" rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Morgan Stanley reduced their price target on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Finally, Barclays reduced their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $97.75.

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.