Royal Bank of Canada Sells 563,389 Shares of 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 lowered its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 33.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Wealth Management LLC lifted its holdings 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 buying an additional 137 shares during the period. Global Wealth Strategies & Associates lifted its holdings in shares of Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after buying an additional 286 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after buying an additional 313 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in Ingersoll Rand by 54.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after purchasing an additional 172 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after purchasing an additional 285 shares during the period. 95.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IR. Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research report on Monday, July 14th. Citigroup reissued a "buy" rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Morgan Stanley reduced their price target 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. Finally, Stifel Nicolaus set a $78.00 price target 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.com, Ingersoll Rand has an average rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Price Performance

IR traded down $0.78 during midday trading on Tuesday, reaching $79.60. 1,191,880 shares of the company's stock were exchanged, compared to its average volume of 2,920,388. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The business's 50-day moving average price is $82.45 and its 200 day moving average price is $80.58. The stock has a market capitalization of $31.64 billion, a PE ratio of 62.18, a P/E/G ratio of 4.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. Ingersoll Rand'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, equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

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.