Northwest & Ethical Investments L.P. Has $2.09 Million Holdings in Ingersoll Rand Inc. $IR

Key Points

• Northwest & Ethical Investments L.P. reduced its holdings in Ingersoll Rand by 26%, selling 9,200 shares, bringing their total investment value to approximately $2.09 million.
• Ingersoll Rand's quarterly earnings met expectations with $0.80 per share, and the company reported revenue of $1.89 billion with a 4.6% year-over-year increase.
• The company announced a $0.02 quarterly dividend to be paid on September 4th and has a stock repurchase plan of up to $1 billion, indicating management's belief in the stock's undervaluation.

Northwest & Ethical Investments L.P. trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 26.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,151 shares of the industrial products company's stock after selling 9,200 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Ingersoll Rand were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aberdeen Group plc raised its position in shares of Ingersoll Rand by 72.2% in the first quarter. Aberdeen Group plc now owns 452,710 shares of the industrial products company's stock valued at $35,841,000 after buying an additional 189,847 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ingersoll Rand by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,600,999 shares of the industrial products company's stock valued at $288,136,000 after buying an additional 14,282 shares in the last quarter. Horizon Investments LLC raised its position in shares of Ingersoll Rand by 4.7% in the first quarter. Horizon Investments LLC now owns 5,789 shares of the industrial products company's stock valued at $463,000 after buying an additional 262 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ingersoll Rand in the first quarter valued at approximately $40,000. Finally, S Bank Fund Management Ltd acquired a new stake in shares of Ingersoll Rand in the first quarter valued at approximately $131,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IR has been the subject of a number of analyst reports. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Stifel Nicolaus set a $78.00 price objective on shares of Ingersoll Rand and gave the company a "hold" rating in a research note on Monday, August 4th. Barclays decreased their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Morgan Stanley decreased their price objective on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $3.1090 during midday trading on Friday, reaching $80.5590. 2,184,448 shares of the company were exchanged, compared to its average volume of 3,448,727. The stock's 50-day moving average price is $83.04 and its 200-day moving average price is $81.34. The stock has a market cap of $32.02 billion, a P/E ratio of 62.94, a PEG ratio of 4.55 and a beta of 1.41. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. 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 posted its 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 analysts' expectations of $1.85 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company's 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. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is currently 6.25%.

Ingersoll Rand declared that its board has initiated a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Ingersoll Rand Company 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.