Groupama Asset Managment Raises Position in Ingersoll Rand Inc. $IR

Key Points

• Groupama Asset Management increased its stake in Ingersoll Rand Inc. by 90.7%, holding 8,446 shares worth approximately $671,000, according to its latest SEC filing.
• Ingersoll Rand reported $0.80 EPS for the last quarter, meeting expectations, with quarterly revenue increasing by 4.6% year-over-year to $1.89 billion.
• The company has announced a $0.02 quarterly dividend with an ex-dividend date of August 14 and a stock repurchase plan allowing buybacks of up to $1 billion in shares.

Groupama Asset Managment lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 90.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,446 shares of the industrial products company's stock after purchasing an additional 4,018 shares during the period. Groupama Asset Managment's holdings in Ingersoll Rand were worth $671,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IR. Nuveen LLC purchased a new stake in shares of Ingersoll Rand during the 1st quarter worth approximately $211,408,000. GAMMA Investing LLC increased its stake in shares of Ingersoll Rand by 7,137.0% during the 1st quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock worth $1,046,290,000 after purchasing an additional 1,289,305 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ingersoll Rand by 4.6% during the 1st quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company's stock worth $1,580,196,000 after purchasing an additional 866,759 shares during the last quarter. Northern Trust Corp increased its stake in shares of Ingersoll Rand by 18.2% during the 4th quarter. Northern Trust Corp now owns 4,042,854 shares of the industrial products company's stock worth $365,717,000 after purchasing an additional 622,246 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Ingersoll Rand by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company's stock worth $3,702,946,000 after purchasing an additional 585,455 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Down 0.7%

Shares of NYSE:IR opened at $79.2860 on Thursday. The firm has a fifty day moving average price of $83.14 and a two-hundred day moving average price of $81.60. 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 one year low of $65.61 and a one year high of $106.03. The company has a market cap of $31.51 billion, a price-to-earnings ratio of 61.94, a PEG ratio of 4.50 and a beta of 1.41.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm earned $0.83 EPS. The business's quarterly revenue was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand declared that its Board of Directors has approved a stock repurchase 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 repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on IR shares. Morgan Stanley cut their price objective on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a report on Monday, July 14th. Stifel Nicolaus set a $78.00 price objective on shares of Ingersoll Rand and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Barclays cut their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.

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