Federated Hermes Inc. Has $18.51 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Key Points

• Federated Hermes Inc. reduced its holdings in Ingersoll Rand Inc. by 10.7%, owning 231,341 shares worth approximately $18.5 million following the sale of 27,714 shares.
• The company recently announced a quarterly dividend of $0.02 per share, with a payout ratio of 3.96% and a dividend yield of 0.1%.
• Ingersoll Rand has seen significant investment activity, with 95.27% of its stock held by hedge funds and institutional investors, reflecting a strong interest in the company's performance.

Federated Hermes Inc. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 231,341 shares of the industrial products company's stock after selling 27,714 shares during the period. Federated Hermes Inc. owned 0.06% of Ingersoll Rand worth $18,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Capital International Investors raised its holdings in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares in the last quarter. Capital World Investors raised its holdings in Ingersoll Rand by 1.0% during the fourth quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock worth $1,817,238,000 after purchasing an additional 197,711 shares in the last quarter. FMR LLC raised its holdings in Ingersoll Rand by 8.2% during the fourth quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock worth $1,580,546,000 after purchasing an additional 1,320,223 shares in the last quarter. Geode Capital Management LLC grew its position in Ingersoll Rand by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 9,648,574 shares of the industrial products company's stock worth $870,503,000 after buying an additional 212,107 shares during the last quarter. Finally, Northern Trust Corp grew its position in Ingersoll Rand by 18.2% in the fourth quarter. Northern Trust Corp now owns 4,042,854 shares of the industrial products company's stock worth $365,717,000 after buying an additional 622,246 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Trading Down 11.3%

NYSE IR traded down $9.54 on Friday, hitting $75.09. 12,246,097 shares of the stock were exchanged, compared to its average volume of 2,696,997. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. The company has a market capitalization of $30.30 billion, a price-to-earnings ratio of 58.66, a P/E/G ratio of 3.15 and a beta of 1.41. The company's 50-day moving average price is $84.19 and its two-hundred day moving average price is $82.83.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm 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 12.06%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 EPS. Research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its board has initiated a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is 6.25%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider owned 10,986 shares of the company's stock, valued at $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider directly owned 193,186 shares of the company's stock, valued at $16,040,233.58. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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 report on Monday, July 14th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup restated a "buy" rating and issued a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Finally, Barclays lifted their price target on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ingersoll Rand presently has an average rating of "Hold" and a consensus target price of $100.92.

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.