Ingersoll Rand Inc. $IR Stock Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada cut its Ingersoll Rand position by 69.6% in the third quarter, selling 52,515 shares and retaining 22,915 shares valued at approximately $1.72 million.
• Institutional investors own approximately 95.27% of Ingersoll Rand, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $95.
• Ingersoll Rand exceeded quarterly expectations, reporting $0.86 in EPS and $2.05 billion in revenue; revenue rose 8.5% year over year. The stock opened at $79.11, within a 52-week range of $68.07 to $100.96.

TD Waterhouse Canada Inc. reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 69.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,915 shares of the industrial products company's stock after selling 52,515 shares during the period. TD Waterhouse Canada Inc.'s holdings in Ingersoll Rand were worth $1,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Ingersoll Rand during the second quarter valued at approximately $2,484,319,000. Jupiter Topco LLC acquired a new stake in Ingersoll Rand during the second quarter worth approximately $547,628,000. Janus Henderson Group PLC boosted its position in Ingersoll Rand by 2.3% during the first quarter. Janus Henderson Group PLC now owns 6,576,720 shares of the industrial products company's stock worth $526,926,000 after acquiring an additional 146,450 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Ingersoll Rand during the second quarter worth approximately $328,309,000. Finally, Amundi grew its stake in Ingersoll Rand by 19.3% in the 2nd quarter. Amundi now owns 3,282,920 shares of the industrial products company's stock worth $269,175,000 after acquiring an additional 531,095 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the subject of several analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Ingersoll Rand in a report on Monday. Morgan Stanley set a $87.00 price objective on Ingersoll Rand in a report on Monday, August 10th. Wall Street Zen downgraded Ingersoll Rand from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Robert W. Baird upped their target price on Ingersoll Rand from $103.00 to $109.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Finally, Citigroup reiterated a "buy" rating on shares of Ingersoll Rand in a research note on Monday, October 12th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Insider Activity

In related news, Director Aurobind Satpathy bought 11,538 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average cost of $86.68 per share, for a total transaction of $1,000,113.84. Following the acquisition, the director owned 11,538 shares in the company, valued at $1,000,113.84. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.49% of the company's stock.

Ingersoll Rand Stock Up 0.7%

Shares of Ingersoll Rand stock opened at $79.11 on Thursday. Ingersoll Rand Inc. has a twelve month low of $68.07 and a twelve month high of $100.96. The stock has a market cap of $30.70 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 3.26 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $76.99 and a 200 day moving average price of $78.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. Ingersoll Rand had a return on equity of 12.90% and a net margin of 12.08%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.41 earnings per share for the current fiscal year.

Ingersoll Rand Company Profile

Ingersoll Rand Inc NYSE: IR is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.