Ingersoll Rand Inc. $IR Shares Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Ingersoll Rand Inc. by 1.0% in the first quarter, owning approximately 734,356 shares valued at $58.6 million after acquiring an additional 7,018 shares.
• Analysts have mixed ratings for Ingersoll Rand, with six analysts issuing a "Buy" rating while seven have rated it as a "Hold," and the average price target currently stands at $97.75.
• Ingersoll Rand announced a quarterly dividend of $0.02 per share, with the ex-dividend date set for August 14th, and has also authorized a stock repurchase plan worth $1.00 billion.

Hsbc Holdings PLC raised its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 734,356 shares of the industrial products company's stock after purchasing an additional 7,018 shares during the quarter. Hsbc Holdings PLC owned 0.18% of Ingersoll Rand worth $58,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Ingersoll Rand by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 4,261,123 shares of the industrial products company's stock worth $341,018,000 after purchasing an additional 307,557 shares during the period. Cornerstone Select Advisors LLC purchased a new stake in Ingersoll Rand in the 1st quarter worth about $384,000. Korea Investment CORP raised its position in Ingersoll Rand by 4.4% in the 1st quarter. Korea Investment CORP now owns 277,505 shares of the industrial products company's stock worth $22,209,000 after purchasing an additional 11,784 shares during the period. Northern Trust Corp increased its position in shares of Ingersoll Rand by 0.3% during the first quarter. Northern Trust Corp now owns 4,053,235 shares of the industrial products company's stock worth $324,380,000 after acquiring an additional 10,381 shares during the period. Finally, Brooklyn Investment Group increased its position in shares of Ingersoll Rand by 84.6% during the first quarter. Brooklyn Investment Group now owns 3,086 shares of the industrial products company's stock worth $247,000 after acquiring an additional 1,414 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IR. Melius lowered shares of 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 raised their target price 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. Morgan Stanley reduced their target price on shares of 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. Barclays reduced their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Citigroup reaffirmed a "buy" rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of "Hold" and an average target price of $97.75.

Ingersoll Rand Stock Up 4.0%

IR stock traded up $3.1090 during trading on Friday, hitting $80.5590. 2,184,448 shares of the company's stock traded hands, compared to its average volume of 3,453,888. The firm has a market capitalization of $32.02 billion, a P/E ratio of 62.94, a PEG ratio of 4.55 and a beta of 1.41. The business has a fifty day simple moving average of $83.04 and a two-hundred day simple moving average of $81.34. 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 Inc. has a 1 year low of $65.61 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. Ingersoll Rand's revenue was up 4.6% compared to the same quarter last year. During the same period last 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 anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.