Public Sector Pension Investment Board Sells 70,649 Shares of Ingersoll Rand Inc. $IR

Public Sector Pension Investment Board trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 56.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 54,773 shares of the industrial products company's stock after selling 70,649 shares during the quarter. Public Sector Pension Investment Board's holdings in Ingersoll Rand were worth $4,383,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Compass Wealth Management LLC grew its holdings 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 period. Arrow Financial Corp grew its holdings in Ingersoll Rand by 0.5% during the fourth 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 grew its holdings in Ingersoll Rand by 10.2% during the fourth 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. CWM LLC grew its holdings in Ingersoll Rand by 1.5% during the first 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. Finally, Rothschild Investment LLC grew its holdings in Ingersoll Rand by 33.5% during the first quarter. Rothschild Investment LLC now owns 654 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 164 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IR has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Robert W. Baird raised their price target on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Stifel Nicolaus set a $78.00 price target on Ingersoll Rand and gave the company a "hold" rating in a report on Monday, August 4th. Barclays decreased their price target on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Morgan Stanley decreased their price target on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Price Performance

Shares of IR traded down $0.5540 during midday trading on Wednesday, hitting $79.2860. 2,989,487 shares of the company traded hands, compared to its average volume of 2,966,137. The firm has a 50 day moving average of $83.21 and a 200-day moving average of $81.62. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 61.94, a PEG ratio of 4.45 and a beta of 1.41. 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 released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The business'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, analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is 6.25%.

Ingersoll Rand declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

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.