Cinctive Capital Management LP Purchases Shares of 3,400 Ingersoll Rand Inc. $IR

Key Points

• Cinctive Capital Management LP invested approximately $272,000 in Ingersoll Rand Inc., purchasing 3,400 shares during the 1st quarter.
• Ingersoll Rand reported $1.89 billion in revenue for the quarter, a 4.6% increase year-over-year, with earnings per share meeting consensus estimates at $0.80.
• Recent analyst ratings show a mixed outlook, with target prices ranging from $78.00 to $103.00, and an average rating of "Hold" with a price target of $97.75.

Cinctive Capital Management LP acquired a new position in Ingersoll Rand Inc. (NYSE:IR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,400 shares of the industrial products company's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of Ingersoll Rand by 28.8% in the 1st 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 acquiring an additional 3,989,643 shares during the period. Nuveen LLC purchased a new position in Ingersoll Rand in the first quarter valued at about $211,408,000. Price T Rowe Associates Inc. MD raised its holdings 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 worth $1,536,464,000 after purchasing an additional 1,849,030 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ingersoll Rand by 7,137.0% during the first quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after buying an additional 1,289,305 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll Rand by 4.6% in the 1st 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 in the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

IR traded down $0.81 on Tuesday, reaching $79.57. 3,291,575 shares of the stock were exchanged, compared to its average volume of 2,933,193. 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 company's 50-day moving average price is $82.45 and its 200 day moving average price is $80.58. The firm has a market capitalization of $31.63 billion, a PE ratio of 62.16, a PEG ratio of 4.58 and a beta of 1.40. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03.

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 for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $1.85 billion. During the same period in the prior year, the company earned $0.83 earnings per share. 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. As a group, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

IR has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a report on Monday, July 14th. Robert W. Baird increased their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Citigroup reaffirmed a "buy" rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.