Russell Investments Group Ltd. Sells 6,426 Shares of Ingersoll Rand Inc. $IR

Key Points

• Russell Investments Group Ltd. has reduced its stake in Ingersoll Rand Inc. by 2.1%, holding now about 300,610 shares worth approximately $24 million as of its latest filing.
• Company insiders, including Vicente Reynal, have also been active, selling significant shares, with Reynal selling 38,657 shares valued at over $3.2 million.
• Ingersoll Rand has declared a quarterly dividend of $0.02 per share, and its board has approved a $1 billion stock repurchase program to buy back up to 3.3% of its outstanding shares.

Russell Investments Group Ltd. trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,610 shares of the industrial products company's stock after selling 6,426 shares during the period. Russell Investments Group Ltd. owned 0.07% of Ingersoll Rand worth $24,046,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Prudential PLC lifted its stake in shares of Ingersoll Rand by 1.8% in the 1st quarter. Prudential PLC now owns 171,630 shares of the industrial products company's stock worth $13,736,000 after acquiring an additional 3,078 shares during the period. Resona Asset Management Co. Ltd. raised its holdings in shares of Ingersoll Rand by 6.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 129,399 shares of the industrial products company's stock valued at $10,344,000 after acquiring an additional 7,754 shares during the period. Rathbones Group PLC raised its holdings in shares of Ingersoll Rand by 1.4% during the first quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock valued at $724,000 after acquiring an additional 121 shares during the period. AIA Group Ltd increased its stake in Ingersoll Rand by 22.7% in the 1st quarter. AIA Group Ltd now owns 50,551 shares of the industrial products company's stock valued at $4,046,000 after buying an additional 9,352 shares during the period. Finally, SouthState Corp increased its stake in Ingersoll Rand by 279.9% in the 1st quarter. SouthState Corp now owns 547 shares of the industrial products company's stock valued at $44,000 after buying an additional 403 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on IR shares. Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a research note on Monday, July 14th. 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. Citigroup reiterated a "buy" rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a research note on Monday, July 14th. Finally, Robert W. Baird upped 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. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Price Performance

Shares of IR traded down $0.84 on Wednesday, hitting $79.00. The company's stock had a trading volume of 912,722 shares, compared to its average volume of 2,952,733. The company has a market capitalization of $31.40 billion, a PE ratio of 61.70, a PEG ratio of 4.45 and a beta of 1.41. 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 Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a 50 day moving average price of $83.21 and a 200 day moving average price of $81.62.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the previous year, the company posted $0.83 EPS. 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. On average, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has approved a stock repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is currently 6.25%.

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.