Royal Bank of Canada Has $89.31 Million Holdings in Ingersoll Rand Inc. $IR

Key Points

• Royal Bank of Canada reduced its stake in Ingersoll Rand by 33.5%, owning approximately 1.1 million shares worth $89.3 million after selling over 563,000 shares in the first quarter.
• Despite the stake reduction by some investors, multiple firms like Compass Wealth Management and Global Wealth Strategies have significantly increased their holdings in Ingersoll Rand, with increases of up to 325%.
• Ingersoll Rand recently reported quarterly earnings with an EPS of $0.80, meeting estimates, while also declaring a $0.02 quarterly dividend to be paid on September 4th.

Royal Bank of Canada lessened its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 33.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,115,960 shares of the industrial products company's stock after selling 563,389 shares during the period. Royal Bank of Canada owned 0.28% of Ingersoll Rand worth $89,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC lifted its stake in shares of Ingersoll Rand by 55.1% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,080 shares of the industrial products company's stock worth $369,000 after acquiring an additional 1,450 shares during the period. Ancora Advisors LLC lifted its stake in Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock valued at $45,000 after buying an additional 294 shares in the last quarter. Benjamin Edwards Inc. raised its position in Ingersoll Rand by 1.9% during the fourth quarter. Benjamin Edwards Inc. now owns 11,769 shares of the industrial products company's stock worth $1,065,000 after acquiring an additional 222 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at about $264,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Ingersoll Rand by 11.8% in the fourth quarter. Captrust Financial Advisors now owns 13,387 shares of the industrial products company's stock worth $1,211,000 after acquiring an additional 1,409 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IR shares. Melius Research set a $93.00 price objective on Ingersoll Rand in a report on Monday, July 14th. Citigroup restated a "buy" rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. 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. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a research note on Monday, July 14th. Finally, Barclays lowered their price objective on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Stock Down 0.9%

NYSE:IR traded down $0.74 on Monday, reaching $80.21. 3,157,124 shares of the stock traded hands, compared to its average volume of 2,921,514. The company's fifty day simple moving average is $82.51 and its 200 day simple moving average is $80.61. 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 $31.88 billion, a price-to-earnings ratio of 62.67, a PEG ratio of 4.58 and a beta of 1.40. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting analysts' consensus estimates of $0.80. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand's 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.