Comerica Bank Sells 4,215 Shares of Ingersoll Rand Inc. $IR

Key Points

• Comerica Bank sold 4,215 shares of Ingersoll Rand, reducing its holdings by 5% to a total of 79,285 shares valued at approximately $6.35 million.
• Ingersoll Rand reported a quarterly EPS of $0.80 and revenue of $1.89 billion, nearing analyst estimates and showing a year-over-year revenue increase of 4.6%.
• The company has authorized a $1.00 billion stock repurchase program, indicating confidence in its stock value as it comprises about 3.3% of its shares.

Comerica Bank lessened its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,285 shares of the industrial products company's stock after selling 4,215 shares during the quarter. Comerica Bank's holdings in Ingersoll Rand were worth $6,345,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. APG Asset Management N.V. increased its stake in Ingersoll Rand by 242.3% in the 1st quarter. APG Asset Management N.V. now owns 754,752 shares of the industrial products company's stock valued at $55,918,000 after buying an additional 534,252 shares during the period. Smartleaf Asset Management LLC increased its stake in Ingersoll Rand by 11.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,207 shares of the industrial products company's stock valued at $175,000 after buying an additional 220 shares during the period. AlphaQuest LLC acquired a new position in Ingersoll Rand in the 1st quarter valued at approximately $604,000. Gitterman Wealth Management LLC acquired a new position in shares of Ingersoll Rand during the 1st quarter worth $241,000. Finally, Norinchukin Bank The increased its stake in shares of Ingersoll Rand by 15.5% during the 1st quarter. Norinchukin Bank The now owns 21,325 shares of the industrial products company's stock worth $1,707,000 after purchasing an additional 2,861 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IR shares. Robert W. Baird increased their price target 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 lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a research note on Monday, July 14th. Stifel Nicolaus set a $78.00 price target on shares of Ingersoll Rand and gave the stock a "hold" 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. Finally, Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of "Hold" and a consensus price target of $97.75.

Ingersoll Rand Stock Performance

NYSE IR traded down $1.74 during midday trading on Tuesday, hitting $77.69. The company had a trading volume of 1,239,565 shares, compared to its average volume of 2,922,257. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The stock has a market cap of $30.88 billion, a price-to-earnings ratio of 60.60, a P/E/G ratio of 4.48 and a beta of 1.40. The firm has a fifty day simple moving average of $82.93 and a two-hundred day simple moving average of $80.81. 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 posted its quarterly earnings results 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. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued 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 of this dividend 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.