Ingersoll Rand Inc. $IR Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Ingersoll Rand by 0.3%, owning over 4 million shares worth approximately $324.38 million.
• Ingersoll Rand reported $0.80 EPS for the last quarter, meeting consensus estimates, with a revenue increase of 4.6% year-over-year.
• The company announced a quarterly dividend of $0.02 per share, alongside a new stock buyback program allowing up to $1 billion in share repurchases.

Northern Trust Corp lifted its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,053,235 shares of the industrial products company's stock after buying an additional 10,381 shares during the quarter. Northern Trust Corp owned approximately 1.00% of Ingersoll Rand worth $324,380,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IR. Compass Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 62.8% in the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after buying an additional 137 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock worth $30,000 after buying an additional 286 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after buying an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Ingersoll Rand by 54.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after buying an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake 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 worth $39,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded up $3.1090 during mid-day trading on Friday, reaching $80.5590. 2,184,448 shares of the stock traded hands, compared to its average volume of 3,448,727. The business has a 50-day moving average of $83.04 and a 200 day moving average of $81.34. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The stock has a market capitalization of $32.02 billion, a PE ratio of 62.94, a PEG ratio of 4.55 and a beta of 1.41. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting analysts' consensus estimates 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 analysts' expectations of $1.85 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The business'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. On average, analysts predict 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 plan on Thursday, May 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Ingersoll Rand Announces Dividend

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 issued 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 dividend yield of 0.1%. Ingersoll Rand's dividend payout ratio is presently 6.25%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IR. Morgan Stanley reduced their price target on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Wells Fargo & Company upped their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a report on Monday, July 14th. Citigroup reaffirmed a "buy" rating and issued a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Finally, Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently 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.