D L Carlson Investment Group Inc. Sells 20,356 Shares of Ingersoll Rand Inc. $IR

Key Points

• D L Carlson Investment Group Inc. significantly reduced its stake in Ingersoll Rand Inc. by 46.4%, selling 20,356 shares and holding 23,514 shares worth approximately $1.88 million as of its recent SEC filing.
• Institutional investors control 95.27% of Ingersoll Rand’s stock, with T. Rowe Price Investment Management Inc. increasing its position by 28.8% during the 1st quarter, now owning nearly 17.8 million shares.
• Ingersoll Rand announced a $1.00 billion stock buyback program, indicating the company's belief that its shares are undervalued, alongside a quarterly dividend of $0.02 per share payable on September 4th.

D L Carlson Investment Group Inc. lowered its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 46.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,514 shares of the industrial products company's stock after selling 20,356 shares during the period. D L Carlson Investment Group Inc.'s holdings in Ingersoll Rand were worth $1,882,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IR. T. Rowe Price Investment Management Inc. raised its position 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 worth $1,426,654,000 after acquiring an additional 3,989,643 shares in the last quarter. Nuveen LLC bought a new position in shares of Ingersoll Rand in the 1st quarter worth approximately $211,408,000. Price T Rowe Associates Inc. MD increased its position in 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 valued at $1,536,464,000 after buying an additional 1,849,030 shares in the last quarter. GAMMA Investing LLC increased its position 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 buying an additional 1,289,305 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Ingersoll Rand by 4.6% during 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on IR shares. Robert W. Baird raised their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Citigroup restated 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. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Melius Research set a $93.00 target price on Ingersoll Rand in a research report on Monday, July 14th. Finally, Morgan Stanley lowered their price objective on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Trading Up 1.9%

Shares of IR stock opened at $81.17 on Wednesday. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average price is $83.01 and its 200-day moving average price is $81.18. The stock has a market capitalization of $32.26 billion, a price-to-earnings ratio of 63.41, a price-to-earnings-growth ratio of 4.50 and a beta of 1.41.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its 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. 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 for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The business's revenue 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. Equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand's payout ratio is presently 6.25%.

Ingersoll Rand Company 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.

Want to see what other hedge funds are holding IR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingersoll Rand Inc. (NYSE:IR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.