FORA Capital LLC Sells 6,926 Shares of Ingersoll Rand Inc. $IR

Key Points

• FORA Capital LLC reduced its stake in Ingersoll Rand Inc. by 22.2% during the first quarter, now holding a position worth $1.94 million.
• The company reported $0.80 earnings per share for the last quarter, meeting analysts' expectations, alongside a revenue of $1.89 billion.
• Ingersoll Rand declared a quarterly dividend of $0.02 per share, with an upcoming ex-dividend date on August 14th.

FORA Capital LLC cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 22.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,261 shares of the industrial products company's stock after selling 6,926 shares during the quarter. FORA Capital LLC's holdings in Ingersoll Rand were worth $1,942,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IR. Compass Wealth Management LLC increased its holdings in shares of 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 last quarter. Global Wealth Strategies & Associates increased its holdings in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 286 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 285 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Trading Down 1.0%

Shares of Ingersoll Rand stock traded down $0.82 during trading on Monday, hitting $79.44. The company's stock had a trading volume of 1,923,003 shares, compared to its average volume of 2,805,934. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The stock has a market cap of $31.57 billion, a price-to-earnings ratio of 62.07, a price-to-earnings-growth ratio of 4.48 and a beta of 1.40. The stock has a 50-day moving average price of $82.98 and a two-hundred day moving average price of $80.86.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued 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. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Ingersoll Rand's revenue for the quarter was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 is Thursday, August 14th. Ingersoll Rand's dividend payout ratio is presently 6.25%.

Analysts Set New Price Targets

Several equities analysts have commented on IR shares. Robert W. Baird upped their price objective on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a report on Monday, July 14th. Morgan Stanley dropped their price objective on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Citigroup reaffirmed a "buy" rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Finally, Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $97.75.

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.