GDS Wealth Management Acquires 11,854 Shares of Ingersoll Rand Inc. $IR

Key Points

• GDS Wealth Management increased its stake in Ingersoll Rand Inc. by 6.8% during the first quarter, bringing its total shares to 185,435 and a value of approximately $14.84 million.
• Ingersoll Rand reported earnings of $0.80 per share for the last quarter, meeting analyst expectations, with a year-over-year revenue increase of 4.6%.
• The company announced a quarterly dividend of $0.02 per share, set to be paid on September 4th, reflecting a 0.1% dividend yield.

GDS Wealth Management grew its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,435 shares of the industrial products company's stock after acquiring an additional 11,854 shares during the quarter. GDS Wealth Management's holdings in Ingersoll Rand were worth $14,840,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sowell Financial Services LLC acquired a new stake in shares of Ingersoll Rand in the first quarter valued at about $262,000. Concurrent Investment Advisors LLC lifted its holdings in Ingersoll Rand by 14.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after buying an additional 385 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Ingersoll Rand by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after buying an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Ingersoll Rand by 14.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock worth $58,147,000 after buying an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Ingersoll Rand by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company's stock worth $15,285,000 after buying an additional 4,690 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Price Performance

Shares of IR traded up $3.1090 during mid-day trading on Friday, reaching $80.5590. The stock had a trading volume of 2,184,448 shares, compared to its average volume of 3,448,727. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of 62.94, a PEG ratio of 4.55 and a beta of 1.41. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The business has a fifty day moving average of $83.04 and a 200 day moving average of $81.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting analysts' consensus estimates of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The company's revenue 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 analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its board has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

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%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Melius Research set a $93.00 target price on Ingersoll Rand in a report on Monday, July 14th. Morgan Stanley reduced their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. Robert W. Baird raised their price target on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. 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 report on Monday, July 14th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Ingersoll Rand currently has a consensus rating of "Hold" and a consensus price target of $97.75.

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.