Fifth Third Bancorp Buys 65,189 Shares of Ingersoll Rand Inc. $IR

Key Points

• Fifth Third Bancorp boosted its Ingersoll Rand stake by 388.7% in the first quarter, buying 65,189 additional shares and bringing its total to 81,961 shares worth about $6.57 million.
• Institutional ownership remains very high, with 95.27% of Ingersoll Rand shares held by hedge funds and other institutions; several other funds also increased or initiated positions recently.
• Analysts are mixed but generally constructive: the stock has a Moderate Buy consensus with an average price target of $92.71, while shares recently traded at $84.81 after the company posted earnings and revenue that beat estimates.

Fifth Third Bancorp raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 388.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,961 shares of the industrial products company's stock after buying an additional 65,189 shares during the period. Fifth Third Bancorp's holdings in Ingersoll Rand were worth $6,567,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in shares of Ingersoll Rand by 9.9% in the 4th quarter. Nordea Investment Management AB now owns 2,219,327 shares of the industrial products company's stock worth $177,324,000 after purchasing an additional 200,689 shares during the period. Hudson Bay Capital Management LP bought a new stake in Ingersoll Rand during the third quarter valued at approximately $1,533,000. Swiss Life Asset Management Ltd increased its holdings in Ingersoll Rand by 29.5% during the third quarter. Swiss Life Asset Management Ltd now owns 89,431 shares of the industrial products company's stock valued at $7,389,000 after buying an additional 20,381 shares during the last quarter. National Pension Service increased its holdings in Ingersoll Rand by 3.0% during the fourth quarter. National Pension Service now owns 636,270 shares of the industrial products company's stock valued at $50,405,000 after buying an additional 18,289 shares during the last quarter. Finally, Strs Ohio raised its position in Ingersoll Rand by 11.2% in the fourth quarter. Strs Ohio now owns 237,624 shares of the industrial products company's stock worth $18,825,000 after acquiring an additional 23,974 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Wells Fargo & Company decreased their target price on Ingersoll Rand from $90.00 to $88.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Barclays lowered their target price on Ingersoll Rand from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Evercore set a $84.00 price target on Ingersoll Rand in a research report on Monday, May 11th. Finally, Stifel Nicolaus decreased their price objective on Ingersoll Rand from $101.00 to $90.00 and set a "hold" rating on the stock in a research note on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average price target of $92.71.

Ingersoll Rand Stock Up 7.2%

Shares of IR stock opened at $84.81 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.23 and a quick ratio of 1.59. Ingersoll Rand Inc. has a one year low of $68.07 and a one year high of $100.96. The company's fifty day moving average price is $75.38 and its 200-day moving average price is $82.55. The company has a market capitalization of $33.19 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 5.00 and a beta of 1.17.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. Ingersoll Rand's quarterly revenue was up 7.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.37 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, May 14th. Ingersoll Rand's dividend payout ratio (DPR) is 5.41%.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company's products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.

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