HighTower Advisors LLC Lowers Stock Position in Ingersoll Rand Inc. $IR

Key Points

• HighTower Advisors LLC has significantly reduced its holdings in Ingersoll Rand by 56.5%, selling over 47,000 shares and now holding 36,615 shares valued at approximately $2.93 million.
• Analysts have mixed ratings for Ingersoll Rand, with Citigroup maintaining a "buy" rating and a new price target of $104.00, while other firms have set lower targets and ratings of "hold."
• Ingersoll Rand recently declared a quarterly dividend of $0.02 per share and initiated a stock repurchase program allowing for the purchase of up to $1 billion in shares, signaling potential confidence in its stock valuation.

HighTower Advisors LLC cut its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 56.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,615 shares of the industrial products company's stock after selling 47,562 shares during the period. HighTower Advisors LLC's holdings in Ingersoll Rand were worth $2,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IR. Nuveen LLC acquired a new stake in Ingersoll Rand in the first quarter valued at $211,408,000. GAMMA Investing LLC raised its stake in Ingersoll Rand by 7,137.0% in the first quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock valued at $1,046,290,000 after buying an additional 1,289,305 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ingersoll Rand by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company's stock valued at $1,580,196,000 after buying an additional 866,759 shares in the last quarter. Northern Trust Corp raised its stake in Ingersoll Rand by 18.2% in the fourth quarter. Northern Trust Corp now owns 4,042,854 shares of the industrial products company's stock valued at $365,717,000 after buying an additional 622,246 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Ingersoll Rand by 1.3% in the first quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company's stock valued at $3,702,946,000 after buying an additional 585,455 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IR has been the topic of a number of analyst reports. Stifel Nicolaus set a $78.00 price target on Ingersoll Rand and gave the company a "hold" rating in a research note on Monday, August 4th. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a research report on Monday, July 14th. Robert W. Baird lifted their target price on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wells Fargo & Company lifted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Morgan Stanley cut their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. 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, Ingersoll Rand currently has an average rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Performance

IR stock traded down $0.8920 during trading on Monday, hitting $79.7380. The company had a trading volume of 1,437,580 shares, compared to its average volume of 3,453,888. The firm has a market cap of $31.69 billion, a PE ratio of 62.30, a price-to-earnings-growth ratio of 4.55 and a beta of 1.41. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The firm has a 50-day moving average price of $83.04 and a 200-day moving average price of $81.26. 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 issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued 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 payout ratio is currently 6.25%.

Ingersoll Rand Company 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.