Adage Capital Partners GP L.L.C. Cuts Stock Holdings in Ingersoll Rand Inc. $IR

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. lowered its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 53.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Compass Wealth Management LLC lifted its position in 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 purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 286 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Ingersoll Rand by 190.9% during the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in Ingersoll Rand by 54.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after acquiring an additional 285 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Down 1.0%

NYSE IR traded down $0.80 during trading on Tuesday, reaching $79.58. 1,286,558 shares of the company's stock traded hands, compared to its average volume of 2,921,174. 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 firm has a market cap of $31.63 billion, a price-to-earnings ratio of 62.17, a price-to-earnings-growth ratio of 4.58 and a beta of 1.40. The company's 50 day simple moving average is $82.45 and its two-hundred day simple moving average is $80.58. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm posted $0.83 EPS. The company's revenue for the quarter 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, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IR shares. Barclays lowered their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. 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 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. Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price for the company. in a report 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, the company currently has an average rating of "Hold" and a consensus price target of $97.75.

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.