Ingersoll Rand Inc. $IR Shares Sold by Baird Financial Group Inc.

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. cut its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 95.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,836 shares of the industrial products company's stock after selling 599,138 shares during the quarter. Baird Financial Group Inc.'s holdings in Ingersoll Rand were worth $2,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IR. T. Rowe Price Investment Management Inc. boosted its holdings in Ingersoll Rand by 28.8% in the first 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 during the period. Nuveen LLC acquired a new position in Ingersoll Rand in the first quarter worth $211,408,000. Price T Rowe Associates Inc. MD lifted its holdings in Ingersoll Rand by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company's stock worth $1,536,464,000 after acquiring an additional 1,849,030 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Ingersoll Rand by 7,137.0% in the first quarter. GAMMA Investing LLC now owns 1,307,370 shares of the industrial products company's stock worth $1,046,290,000 after acquiring an additional 1,289,305 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Ingersoll Rand by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company's stock worth $1,580,196,000 after acquiring an additional 866,759 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Price Performance

NYSE IR opened at $80.92 on Monday. The stock has a market capitalization of $32.16 billion, a P/E ratio of 63.22, a P/E/G ratio of 4.58 and a beta of 1.40. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The business's fifty day moving average is $82.51 and its two-hundred day moving average is $80.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

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, meeting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date was Thursday, August 14th. Ingersoll Rand's payout ratio is presently 6.25%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Barclays dropped their target price on 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 Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Robert W. Baird increased their target price on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report 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 data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Hold" and an average target price 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.

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