Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stock Holdings in Ingersoll Rand Inc. $IR

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its holdings in Ingersoll Rand Inc. by 18.3%, selling 18,800 shares during the first quarter.
• Analysts have mixed views on the stock, with a range of price targets from $78.00 to $103.00 and an average rating of "Hold".
• Ingersoll Rand has announced a quarterly dividend of $0.02 per share and initiated a $1 billion share buyback plan, reflecting confidence in the company's stock value.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 18.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,169 shares of the industrial products company's stock after selling 18,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Ingersoll Rand were worth $6,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compass Wealth Management LLC increased its holdings in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after acquiring an additional 137 shares during the period. Global Wealth Strategies & Associates increased its holdings in Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after acquiring an additional 286 shares during the period. Golden State Wealth Management LLC increased its holdings in Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after acquiring an additional 313 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares during the period. Finally, Larson Financial Group LLC increased its holdings in Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after acquiring an additional 285 shares during the period. Institutional investors own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays decreased their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Morgan Stanley cut their price target on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Finally, Citigroup reissued a "buy" rating and issued a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $97.75.

Ingersoll Rand Trading Down 1.0%

Shares of Ingersoll Rand stock traded down $0.7910 during trading on Wednesday, reaching $79.0490. The company's stock had a trading volume of 912,722 shares, compared to its average volume of 2,952,733. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a market cap of $31.42 billion, a price-to-earnings ratio of 61.70, a PEG ratio of 4.45 and a beta of 1.41. The firm's 50-day moving average is $83.21 and its two-hundred day moving average is $81.62. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $1.89 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

Ingersoll Rand announced that its board has approved a stock buyback plan on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

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.