Baird Financial Group Inc. Sells 599,138 Shares of Ingersoll Rand Inc. $IR

Key Points

• Baird Financial Group Inc. has significantly reduced its stake in Ingersoll Rand, selling 599,138 shares, representing a 95.9% cut in its holdings during the first quarter.
• T. Rowe Price Investment Management Inc. increased its position in the company by 28.8%, acquiring an additional 3,989,643 shares during the same period.
• Ingersoll Rand reported quarterly earnings of $0.80 per share, meeting analyst expectations, with a revenue of $1.89 billion, surpassing the projected $1.85 billion.

Baird Financial Group Inc. decreased its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 95.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,836 shares of the industrial products company's stock after selling 599,138 shares during the period. Baird Financial Group Inc.'s holdings in Ingersoll Rand were worth $2,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Compass Wealth Management LLC increased its holdings in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after purchasing an additional 137 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Ingersoll Rand by 325.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after buying an additional 286 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after buying an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after buying an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake 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 buying an additional 285 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Price Performance

Shares of IR stock traded down $2.15 during trading hours on Friday, hitting $78.87. The stock had a trading volume of 3,643,370 shares, compared to its average volume of 2,497,093. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. 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's 50-day moving average price is $81.93 and its two-hundred day moving average price is $80.53. The stock has a market capitalization of $31.35 billion, a price-to-earnings ratio of 61.62, a PEG ratio of 4.57 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. 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. Equities analysts forecast 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 was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 14th. Ingersoll Rand's payout ratio is 6.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IR shares. Wells Fargo & Company raised their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Citigroup restated a "buy" rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Barclays dropped their price target on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Morgan Stanley dropped their price target on 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, 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. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $97.75.

About Ingersoll Rand

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.