Janney Montgomery Scott LLC Lowers Position in Ingersoll Rand Inc. $IR

Key Points

• Janney Montgomery Scott LLC reduced its stake in Ingersoll Rand Inc. by 22.6% in the second quarter, now owning 47,954 shares valued at approximately $3.99 million.
• Ingersoll Rand's stock recently fell 2.9%, with shares trading at $80.99 and a market cap of $32.19 billion.
• The company announced a quarterly dividend of $0.02 per share, representing an annual yield of 0.1%.

Janney Montgomery Scott LLC reduced its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 22.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,954 shares of the industrial products company's stock after selling 14,018 shares during the quarter. Janney Montgomery Scott LLC's holdings in Ingersoll Rand were worth $3,989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Ingersoll Rand by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 46,269,471 shares of the industrial products company's stock valued at $3,702,946,000 after buying an additional 585,455 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 4.6% during the 1st quarter. JPMorgan Chase & Co. now owns 19,745,039 shares of the industrial products company's stock valued at $1,580,196,000 after purchasing an additional 866,759 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Ingersoll Rand by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,198,593 shares of the industrial products company's stock valued at $1,536,464,000 after purchasing an additional 1,849,030 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Ingersoll Rand by 28.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 17,826,488 shares of the industrial products company's stock valued at $1,426,654,000 after purchasing an additional 3,989,643 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Ingersoll Rand by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 4,261,123 shares of the industrial products company's stock valued at $341,018,000 after purchasing an additional 307,557 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Down 2.9%

Shares of NYSE IR opened at $80.99 on Wednesday. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. The business has a 50-day simple moving average of $80.08 and a two-hundred day simple moving average of $80.38. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The company has a market cap of $32.19 billion, a P/E ratio of 63.27, a P/E/G ratio of 4.90 and a beta of 1.43.

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

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a $0.02 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is currently 6.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IR shares. Melius Research set a $93.00 target price on Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird raised their target price on 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 decreased their target price on 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. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price for the company. in a research report on Monday, July 14th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

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.

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