Credit Agricole S A Sells 30,137 Shares of Ingersoll Rand Inc. $IR

Key Points

• Credit Agricole S A has reduced its stake in Ingersoll Rand Inc. by 16.5%, owning 152,362 shares valued at approximately $12.19 million after selling 30,137 shares during the first quarter.
• Ingersoll Rand's stock has received mixed ratings from analysts, with a consensus rating of "Hold" and an average target price of $97.75, while recent earnings per share met expectations.
• The company announced a quarterly dividend of $0.02 per share and initiated a share repurchase program authorizing up to $1 billion in stock buybacks.

Credit Agricole S A trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 152,362 shares of the industrial products company's stock after selling 30,137 shares during the quarter. Credit Agricole S A's holdings in Ingersoll Rand were worth $12,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rathbones Group PLC raised its stake in shares of Ingersoll Rand by 1.4% during the 1st quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock valued at $724,000 after purchasing an additional 121 shares during the period. Compass Wealth Management LLC raised its stake in shares of Ingersoll Rand by 62.8% during the 1st 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 period. Arrow Financial Corp raised its stake in shares of Ingersoll Rand by 0.5% during the 4th quarter. Arrow Financial Corp now owns 32,343 shares of the industrial products company's stock valued at $2,926,000 after purchasing an additional 149 shares during the period. GeoWealth Management LLC raised its stake in shares of Ingersoll Rand by 10.2% during the 4th quarter. GeoWealth Management LLC now owns 1,726 shares of the industrial products company's stock valued at $156,000 after purchasing an additional 160 shares during the period. Finally, CWM LLC raised its stake in shares of Ingersoll Rand by 1.5% during the 1st quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock valued at $853,000 after purchasing an additional 161 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the stock a "hold" rating in a research note on Monday, August 4th. Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Barclays decreased their target price 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. Finally, Morgan Stanley decreased their target price 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. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $97.75.

Ingersoll Rand Price Performance

Shares of IR traded up $3.1090 during midday trading on Friday, reaching $80.5590. The stock had a trading volume of 2,184,448 shares, compared to its average volume of 3,448,727. The company's 50-day moving average is $83.04 and its 200 day moving average is $81.34. Ingersoll Rand Inc. has a 12-month low of $65.61 and a 12-month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $32.02 billion, a price-to-earnings ratio of 62.94, a price-to-earnings-growth ratio of 4.55 and a beta of 1.41.

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 for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.Ingersoll Rand's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.02 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is 6.25%.

Ingersoll Rand declared that its board has approved a share buyback 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 buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.