Sumitomo Mitsui Trust Group Inc. Sells 53,208 Shares of Ingersoll Rand Inc. $IR

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 884,785 shares of the industrial products company's stock after selling 53,208 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Ingersoll Rand worth $70,889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in Ingersoll Rand by 12.7% during the 1st quarter. AQR Capital Management LLC now owns 37,078 shares of the industrial products company's stock worth $2,904,000 after purchasing an additional 4,167 shares during the period. NewEdge Advisors LLC increased its stake in Ingersoll Rand by 4.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company's stock valued at $494,000 after purchasing an additional 282 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Ingersoll Rand by 6.2% in the first quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company's stock worth $619,000 after purchasing an additional 454 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Ingersoll Rand during the first quarter worth $643,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Ingersoll Rand by 663.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 74,615 shares of the industrial products company's stock valued at $6,206,000 after buying an additional 64,838 shares during the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Up 2.5%

Shares of Ingersoll Rand stock traded up $1.92 during trading hours on Friday, hitting $78.97. The company had a trading volume of 3,122,690 shares, compared to its average volume of 3,971,077. The company's 50-day moving average is $75.19 and its two-hundred day moving average is $82.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.23 and a quick ratio of 1.59. Ingersoll Rand Inc. has a twelve month low of $68.07 and a twelve month high of $100.96. The company has a market cap of $30.90 billion, a P/E ratio of 53.36, a price-to-earnings-growth ratio of 4.99 and a beta of 1.17.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.83 billion. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. Analysts anticipate that Ingersoll Rand Inc. will post 3.37 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand's payout ratio is currently 5.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IR shares. Stifel Nicolaus lowered their price target on Ingersoll Rand from $101.00 to $90.00 and set a "hold" rating on the stock in a research report on Tuesday, April 14th. Robert W. Baird set a $103.00 price objective on shares of Ingersoll Rand in a report on Thursday, April 30th. Weiss Ratings lowered Ingersoll Rand from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday. Evercore set a $84.00 price objective on Ingersoll Rand in a report on Monday, May 11th. Finally, Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $90.00 to $88.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of "Hold" and an average target price of $92.75.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 30,492 shares of the company's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $88.00, for a total value of $2,683,296.00. Following the sale, the insider owned 209,534 shares of the company's stock, valued at approximately $18,438,992. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company's products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.

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