Ingersoll Rand Inc. $IR Stake Cut by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its Ingersoll Rand stake by 25.9% in the third quarter, selling 44,826 shares and retaining 127,983 shares valued at about $9.65 million.
• Ingersoll Rand reported quarterly EPS of $1.07, beating the $0.90 analyst consensus; revenue rose 5.6% year over year to $2.06 billion.
• Analysts’ consensus rating is Moderate Buy, with a $95 target price. Five analysts rated the stock Buy and three rated it Hold.

Candriam S.C.A. cut its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,983 shares of the industrial products company's stock after selling 44,826 shares during the quarter. Candriam S.C.A.'s holdings in Ingersoll Rand were worth $9,648,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Alps Advisors Inc. grew its holdings in shares of Ingersoll Rand by 3.2% in the third quarter. Alps Advisors Inc. now owns 4,492 shares of the industrial products company's stock valued at $337,000 after purchasing an additional 140 shares during the period. Chicago Partners Investment Group LLC increased its position in Ingersoll Rand by 6.4% during the first quarter. Chicago Partners Investment Group LLC now owns 2,658 shares of the industrial products company's stock worth $222,000 after purchasing an additional 160 shares during the last quarter. North Dakota State Investment Board raised its stake in Ingersoll Rand by 1.4% during the third quarter. North Dakota State Investment Board now owns 11,987 shares of the industrial products company's stock worth $900,000 after purchasing an additional 165 shares during the period. Parallel Advisors LLC raised its stake in Ingersoll Rand by 5.1% during the third quarter. Parallel Advisors LLC now owns 3,477 shares of the industrial products company's stock worth $261,000 after purchasing an additional 170 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in Ingersoll Rand by 5.0% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 3,647 shares of the industrial products company's stock valued at $292,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus restated a "buy" rating and set a $95.00 price target (up from $93.00) on shares of Ingersoll Rand in a report on Monday, November 2nd. Wall Street Zen cut Ingersoll Rand from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Ingersoll Rand in a research report on Monday, October 19th. Citigroup reiterated a "buy" rating on shares of Ingersoll Rand in a research report on Monday, October 12th. Finally, Morgan Stanley set a $87.00 target price on Ingersoll Rand in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.00.

Ingersoll Rand Trading Up 4.8%

Shares of IR stock opened at $86.97 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market cap of $33.40 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.56 and a beta of 1.15. The company has a 50-day moving average of $76.85 and a two-hundred day moving average of $81.15. Ingersoll Rand Inc. has a 1-year low of $68.07 and a 1-year high of $100.96.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.17. Ingersoll Rand had a net margin of 17.20% and a return on equity of 13.47%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business's revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Ingersoll Rand Inc. will post 3.47 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, November 12th. Ingersoll Rand's dividend payout ratio (DPR) is 2.25%.

Ingersoll Rand Company Profile

Ingersoll Rand Inc NYSE: IR is a global industrial company that designs and manufactures equipment and technologies used to move, manage and control air, gases, fluids and other materials. Its products include air and gas compressors, vacuum and blower systems, pumps, and related components and services.

The company also supplies precision and science technologies for applications such as fluid handling, material processing and life sciences. Its equipment and services support customers across a range of industries, including manufacturing, energy, healthcare and food and beverage.

The modern Ingersoll Rand was formed in 2020 through the combination of Gardner Denver and the industrial business of the former Ingersoll-Rand plc; the Ingersoll Rand name has roots dating to the 19th century.

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