Douglas Lane & Associates LLC Lowers Stock Position in Ingersoll Rand Inc. $IR

Key Points

• Douglas Lane & Associates LLC reduced its stake in Ingersoll Rand Inc. by 7.2%, owning 832,925 shares after selling 64,392 shares in the second quarter.
• Ingersoll Rand reported a quarterly earnings of $0.80 EPS and $1.89 billion in revenue for the quarter, which surpassed analysts' expectations.
• Institutional investors hold 95.27% of Ingersoll Rand's stock, with various hedge funds significantly increasing their positions in the first quarter.

Douglas Lane & Associates LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 832,925 shares of the industrial products company's stock after selling 64,392 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.21% of Ingersoll Rand worth $69,283,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. AG2R LA Mondiale Gestion D Actifs bought a new position in Ingersoll Rand during the first quarter valued at about $1,376,000. Swedbank AB grew its position in Ingersoll Rand by 9.0% during the first quarter. Swedbank AB now owns 178,946 shares of the industrial products company's stock valued at $14,321,000 after buying an additional 14,735 shares during the period. Strs Ohio bought a new position in Ingersoll Rand during the first quarter valued at about $26,297,000. Ransom Advisory Ltd bought a new position in Ingersoll Rand during the first quarter valued at about $236,000. Finally, Glenview Trust co grew its position in Ingersoll Rand by 2.6% during the first quarter. Glenview Trust co now owns 192,203 shares of the industrial products company's stock valued at $15,382,000 after buying an additional 4,859 shares during the period. Institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Citigroup restated a "buy" rating and set a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Morgan Stanley cut their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Robert W. Baird increased their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the stock 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 given a Hold rating to the company. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded down $1.38 on Tuesday, reaching $77.67. The stock had a trading volume of 3,499,733 shares, compared to its average volume of 2,567,703. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company has a market cap of $30.87 billion, a P/E ratio of 60.68, a price-to-earnings-growth ratio of 4.46 and a beta of 1.40. 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 business's 50 day moving average is $81.59 and its two-hundred day moving average is $80.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. 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, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 14th. Ingersoll Rand's dividend payout ratio is presently 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.