HighTower Advisors LLC Sells 47,562 Shares of 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 stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 56.5% in the 1st quarter, according to its most recent disclosure 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 quarter. HighTower Advisors LLC's holdings in Ingersoll Rand were worth $2,930,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IR. Nuveen LLC bought a new stake in Ingersoll Rand in the 1st quarter worth about $211,408,000. GAMMA Investing LLC increased its holdings in Ingersoll Rand by 7,137.0% in 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 buying an additional 1,289,305 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ingersoll Rand by 4.6% in 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 buying an additional 866,759 shares in the last quarter. Northern Trust Corp increased its holdings in Ingersoll Rand by 18.2% in the 4th quarter. Northern Trust Corp now owns 4,042,854 shares of the industrial products company's stock worth $365,717,000 after buying an additional 622,246 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Ingersoll Rand by 1.3% in 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 buying an additional 585,455 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IR has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on 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 Ingersoll Rand in a report on Monday, July 14th. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the stock a "hold" rating in a report 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. Finally, Barclays dropped their target price on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. 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, the stock has an average rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Performance

NYSE:IR traded down $0.33 on Thursday, hitting $80.31. The stock had a trading volume of 1,431,322 shares, compared to its average volume of 3,491,917. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The stock has a market cap of $31.92 billion, a price-to-earnings ratio of 62.74, a price-to-earnings-growth ratio of 4.55 and a beta of 1.41. The business's 50-day simple moving average is $83.00 and its two-hundred day simple moving average is $81.10.

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

Ingersoll Rand Dividend Announcement

The firm 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 dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand's dividend payout ratio (DPR) is 6.25%.

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

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.