Candriam S.C.A. Boosts Stock Position in Ingersoll Rand Inc. $IR

Key Points

• Candriam S.C.A. increased its holdings in Ingersoll Rand Inc. by 36.7% during the first quarter, bringing its total to 80,599 shares valued at approximately $6.45 million.
• Ingersoll Rand reported a net margin of 7.10% and revenue of $1.89 billion in its latest quarter, exceeding analysts' expectations, with a quarterly EPS of $0.80.
• Shares of Ingersoll Rand have an average rating of "Hold" among analysts, with a consensus target price of $97.75, reflecting mixed sentiments on the stock's future performance.

Candriam S.C.A. boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 36.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,599 shares of the industrial products company's stock after buying an additional 21,652 shares during the quarter. Candriam S.C.A.'s holdings in Ingersoll Rand were worth $6,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its holdings in Ingersoll Rand by 28.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company's stock worth $1,426,654,000 after purchasing an additional 3,989,643 shares in the last quarter. Nuveen LLC purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $211,408,000. GAMMA Investing LLC grew its position 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 valued at $1,046,290,000 after acquiring an additional 1,289,305 shares during the period. JPMorgan Chase & Co. boosted 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 during the period. Finally, Northern Trust Corp lifted its stake 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 purchasing an additional 622,246 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IR shares. 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. Barclays dropped 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. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Morgan Stanley cut 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 note on Wednesday, August 13th. Finally, Robert W. Baird increased their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company 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 company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded down $0.43 on Wednesday, reaching $80.70. 310,232 shares of the company's stock were exchanged, compared to its average volume of 2,939,614. The business's 50-day moving average is $83.01 and its two-hundred day moving average is $81.18. The firm has a market capitalization of $32.07 billion, a price-to-earnings ratio of 63.01, a PEG ratio of 4.50 and a beta of 1.41. 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 fifty-two week low of $65.61 and a fifty-two week high of $106.03.

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

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand announced that its board has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is 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.