Ingersoll Rand Inc. $IR Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in Ingersoll Rand Inc. by 53.8%, selling 493,724 shares, while still holding 424,587 shares valued at approximately $33.98 million.
• Ingersoll Rand reported $0.80 earnings per share for the last quarter, matching analysts' expectations and showing a 4.6% year-over-year revenue increase to $1.89 billion.
• The company declared a quarterly dividend of $0.02 per share, set to be paid on September 4th, with a yield of 0.1%.

Adage Capital Partners GP L.L.C. reduced its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 53.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,587 shares of the industrial products company's stock after selling 493,724 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.11% of Ingersoll Rand worth $33,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IR. Rathbones Group PLC lifted its stake in Ingersoll Rand by 1.4% in the 1st quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock worth $724,000 after purchasing an additional 121 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 2.4% during the first quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company's stock valued at $474,000 after buying an additional 136 shares during the period. Compass Wealth Management LLC increased its position in shares of Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after buying an additional 137 shares during the period. CWM LLC boosted its stake in Ingersoll Rand by 1.5% during the first quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock worth $853,000 after acquiring an additional 161 shares in the last quarter. Finally, Rothschild Investment LLC boosted its stake in Ingersoll Rand by 33.5% during the first quarter. Rothschild Investment LLC now owns 654 shares of the industrial products company's stock worth $52,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IR. Morgan Stanley dropped 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. Melius downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the company a "hold" rating in a report on Monday, August 4th. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a research note on Monday, July 14th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $97.75.

Ingersoll Rand Stock Down 0.9%

Shares of Ingersoll Rand stock traded down $0.69 on Monday, reaching $80.26. The stock had a trading volume of 4,513,343 shares, compared to its average volume of 2,930,945. The company has a 50 day moving average price of $82.51 and a 200 day moving average price of $80.61. 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. The stock has a market capitalization of $31.90 billion, a P/E ratio of 62.70, a P/E/G ratio of 4.58 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its 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. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the business posted $0.83 EPS. The business'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 company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was 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 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.