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

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings 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 valued at $1,426,654,000 after acquiring an additional 3,989,643 shares during the period. Nuveen LLC bought a new position in shares of Ingersoll Rand in the first quarter worth about $211,408,000. Price T Rowe Associates Inc. MD lifted its position 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 during the last quarter. GAMMA Investing LLC boosted its stake in Ingersoll Rand by 7,137.0% during the 1st quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after purchasing an additional 1,289,305 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in 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 during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IR. Morgan Stanley cut their price target on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Robert W. Baird upped their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company 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 report on Monday, July 14th. Melius downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a report on Monday, July 14th. Finally, Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the company a "hold" rating in a research note on Monday, August 4th. Six 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 stock presently has an average rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Price Performance

Shares of NYSE:IR traded up $0.80 during midday trading on Thursday, reaching $81.04. 4,317,796 shares of the company's stock were exchanged, compared to its average volume of 2,438,309. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The company's 50 day simple moving average is $82.09 and its two-hundred day simple moving average is $80.56. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The firm has a market capitalization of $32.21 billion, a PE ratio of 63.31, a price-to-earnings-growth ratio of 4.54 and a beta of 1.40.

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

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand 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.