Wellington Management Group LLP lifted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,261,123 shares of the industrial products company's stock after acquiring an additional 307,557 shares during the quarter. Wellington Management Group LLP owned 1.06% of Ingersoll Rand worth $341,018,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of IR. Townsquare Capital LLC purchased a new stake in Ingersoll Rand in the 4th quarter worth approximately $244,000. Guggenheim Capital LLC boosted its holdings in Ingersoll Rand by 93.3% during the fourth quarter. Guggenheim Capital LLC now owns 11,121 shares of the industrial products company's stock worth $1,006,000 after buying an additional 5,367 shares in the last quarter. Jump Financial LLC acquired a new stake in Ingersoll Rand during the fourth quarter valued at $760,000. NewEdge Advisors LLC increased its holdings in Ingersoll Rand by 25.6% in the fourth quarter. NewEdge Advisors LLC now owns 5,886 shares of the industrial products company's stock valued at $532,000 after buying an additional 1,198 shares in the last quarter. Finally, GeoWealth Management LLC raised its position in shares of Ingersoll Rand by 10.2% in the fourth quarter. GeoWealth Management LLC now owns 1,726 shares of the industrial products company's stock worth $156,000 after acquiring an additional 160 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.
Ingersoll Rand Price Performance
NYSE IR traded up $3.1090 during mid-day trading on Friday, hitting $80.5590. The stock had a trading volume of 2,184,448 shares, compared to its average volume of 3,448,727. The firm's 50 day moving average is $83.04 and its 200 day moving average is $81.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. The stock has a market capitalization of $32.02 billion, a price-to-earnings ratio of 62.94, a PEG ratio of 4.55 and a beta of 1.41. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03.
Ingersoll Rand (NYSE:IR - Get Free Report) last released its 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. The business had revenue of $1.89 billion during 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%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.
Ingersoll Rand announced that its board has authorized a stock repurchase 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 reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Ingersoll Rand Dividend Announcement
The firm 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 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 (DPR) is 6.25%.
Wall Street Analysts Forecast Growth
IR has been the topic of a number of analyst reports. Citigroup restated 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. Melius Research set a $93.00 price objective on Ingersoll Rand in a report on Monday, July 14th. Morgan Stanley cut their price objective on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Barclays dropped their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research note 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.com, the stock has a consensus rating of "Hold" and an average price target of $97.75.
Get Our Latest Stock Analysis on Ingersoll Rand
Ingersoll Rand Company Profile
(
Free Report)
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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