State of New Jersey Common Pension Fund D Sells 12,940 Shares of Ingersoll Rand Inc. $IR

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

State of New Jersey Common Pension Fund D decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,865 shares of the industrial products company's stock after selling 12,940 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Ingersoll Rand were worth $10,633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Ingersoll Rand by 6.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 22,682 shares of the industrial products company's stock worth $2,053,000 after acquiring an additional 1,280 shares during the last quarter. Townsquare Capital LLC bought a new position in shares of Ingersoll Rand in the fourth quarter worth about $244,000. Mariner LLC lifted its holdings in shares of Ingersoll Rand by 3.7% in the fourth quarter. Mariner LLC now owns 67,701 shares of the industrial products company's stock worth $6,124,000 after acquiring an additional 2,402 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Ingersoll Rand by 52.6% in the fourth quarter. CreativeOne Wealth LLC now owns 4,187 shares of the industrial products company's stock worth $379,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of Ingersoll Rand by 93.3% in the fourth quarter. Guggenheim Capital LLC now owns 11,121 shares of the industrial products company's stock worth $1,006,000 after acquiring an additional 5,367 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Trading Down 0.7%

NYSE:IR traded down $0.5540 on Wednesday, reaching $79.2860. 2,989,487 shares of the stock traded hands, compared to its average volume of 3,486,019. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 61.94, a price-to-earnings-growth ratio of 4.50 and a beta of 1.41. The company's 50 day moving average is $83.21 and its 200-day moving average is $81.62. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company 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 company's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley dropped 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 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 report on Monday, August 4th. Citigroup reaffirmed a "buy" rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Barclays lowered their price objective on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $97.75.

Ingersoll Rand 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.