Ingersoll Rand Inc. $IR Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its holdings in Ingersoll Rand Inc. by 4.4% by purchasing an additional 11,784 shares, bringing its total ownership to 277,505 shares valued at $22.2 million.
• Ingersoll Rand reported earnings of $0.80 EPS, matching analyst expectations, and had revenue of $1.89 billion for the quarter, up 4.6% from the previous year.
• The company announced a $1 billion share buyback plan and a quarterly dividend of $0.02 per share, indicating confidence in its stock's valuation.

Korea Investment CORP boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 277,505 shares of the industrial products company's stock after buying an additional 11,784 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Ingersoll Rand worth $22,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Wealth Management LLC grew its position in Ingersoll Rand by 62.8% during the first 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 grew its position in Ingersoll Rand by 325.0% during the first 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 grew its position in Ingersoll Rand by 190.9% during the first 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. grew its position in Ingersoll Rand by 54.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after buying an additional 172 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Price Performance

IR traded up $3.1090 on Friday, reaching $80.5590. 2,184,448 shares of the company's stock were exchanged, compared to its average volume of 3,448,727. The stock has a market cap of $32.02 billion, a PE ratio of 62.94, a P/E/G ratio of 4.55 and a beta of 1.41. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The stock's fifty day moving average price is $83.04 and its 200-day moving average price is $81.34. 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 posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting analysts' consensus estimates of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $0.83 earnings per share. Ingersoll Rand's quarterly revenue was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its Board of Directors has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is 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%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IR shares. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research report on Monday, July 14th. Citigroup reiterated a "buy" rating and issued a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Barclays dropped their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $97.75.

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.