Ingersoll Rand Inc. $IR Shares Bought by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its stake in Ingersoll Rand Inc. by 56.2%, purchasing an additional 60,097 shares to bring its total holdings to 167,037 shares, valued at approximately $13.37 million.
• Ingersoll Rand's earnings reports show a 4.6% revenue increase year-over-year, with earnings per share meeting analyst expectations at $0.80 for the quarter.
• The company also recently declared a quarterly dividend of $0.02 per share, resulting in an annualized dividend yield of 0.1% and a payout ratio of 6.25%.

Gotham Asset Management LLC boosted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 56.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 167,037 shares of the industrial products company's stock after buying an additional 60,097 shares during the period. Gotham Asset Management LLC's holdings in Ingersoll Rand were worth $13,368,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of Ingersoll Rand during the first quarter valued at approximately $262,000. Concurrent Investment Advisors LLC raised its stake in shares of Ingersoll Rand by 14.4% during the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock valued at $245,000 after purchasing an additional 385 shares during the period. QRG Capital Management Inc. raised its stake in shares of Ingersoll Rand by 9.4% during the first quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock valued at $614,000 after purchasing an additional 660 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ingersoll Rand by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock valued at $58,147,000 after purchasing an additional 91,777 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Ingersoll Rand by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company's stock valued at $15,285,000 after purchasing an additional 4,690 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Citigroup reissued a "buy" rating and set a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Wells Fargo & Company raised 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. Melius downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research report on Monday, July 14th. Finally, Robert W. Baird raised their price target on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Ingersoll Rand currently has a consensus rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded down $1.45 during mid-day trading on Friday, reaching $79.57. The company's stock had a trading volume of 849,420 shares, compared to its average volume of 2,926,903. The firm has a market cap of $31.63 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 4.54 and a beta of 1.40. The business has a 50 day moving average price of $82.09 and a 200-day moving average price of $80.56. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting analysts' consensus estimates of $0.80. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate 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 was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is 6.25%.

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.