Raymond James Financial Inc. Has $37.36 Million Stock Holdings in Ingersoll Rand Inc. $IR

Key Points

• Raymond James Financial Inc. reduced its holdings in Ingersoll Rand Inc. by 6.2%, now owning approximately $37.36 million worth of the company's stock.
• Ingersoll Rand reported $0.80 earnings per share for the quarter, meeting analysts' estimates, with a revenue of $1.89 billion, exceeding expectations.
• The company has initiated a $1 billion stock repurchase plan, allowing it to buy back up to 3.3% of its shares, indicating potential undervaluation of the stock.

Raymond James Financial Inc. lessened its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 466,871 shares of the industrial products company's stock after selling 30,630 shares during the period. Raymond James Financial Inc. owned approximately 0.12% of Ingersoll Rand worth $37,363,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Rathbones Group PLC boosted its stake in Ingersoll Rand by 1.4% in the 1st quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock valued at $724,000 after buying an additional 121 shares in the last quarter. Compass Wealth Management LLC raised its position in Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 137 shares during the last quarter. Arrow Financial Corp raised its position in Ingersoll Rand by 0.5% in the 4th quarter. Arrow Financial Corp now owns 32,343 shares of the industrial products company's stock valued at $2,926,000 after purchasing an additional 149 shares during the last quarter. GeoWealth Management LLC raised its position in Ingersoll Rand by 10.2% in the 4th quarter. GeoWealth Management LLC now owns 1,726 shares of the industrial products company's stock valued at $156,000 after purchasing an additional 160 shares during the last quarter. Finally, CWM LLC raised its position in Ingersoll Rand by 1.5% in the 1st quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock valued at $853,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup restated a "buy" rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Melius Research set a $93.00 target price on Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the stock a "hold" rating in a research note on Monday, August 4th. Barclays decreased their price objective on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Robert W. Baird lifted their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Down 1.1%

Shares of IR stock traded down $0.8920 on Monday, hitting $79.7380. 1,437,580 shares of the stock were exchanged, compared to its average volume of 3,453,888. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $31.69 billion, a P/E ratio of 62.30, a price-to-earnings-growth ratio of 4.55 and a beta of 1.41. The business has a 50-day moving average of $83.04 and a 200 day moving average of $81.26. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (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 for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. Ingersoll Rand'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. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given 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 dividend payout ratio is presently 6.25%.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire 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 stock is 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.