TD Asset Management Inc Decreases Stake in Ingersoll Rand Inc. $IR

Key Points

• TD Asset Management cut its stake in Ingersoll Rand by 16.2% in the fourth quarter, selling 129,505 shares and ending with 668,045 shares valued at about $52.9 million.
• Several other institutional investors also adjusted positions in IR, and 95.27% of the stock is now held by hedge funds and other institutional investors.
• Ingersoll Rand reported strong quarterly results, with EPS of $0.77 and revenue of $1.85 billion, both topping estimates; however, analysts currently rate the stock a Hold on average with a target price of $92.75.

TD Asset Management Inc reduced its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,045 shares of the industrial products company's stock after selling 129,505 shares during the period. TD Asset Management Inc owned 0.17% of Ingersoll Rand worth $52,923,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IR. AQR Capital Management LLC lifted its position in shares of Ingersoll Rand by 12.7% in the first quarter. AQR Capital Management LLC now owns 37,078 shares of the industrial products company's stock worth $2,904,000 after buying an additional 4,167 shares in the last quarter. NewEdge Advisors LLC increased its stake in Ingersoll Rand by 4.8% during the first quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company's stock worth $494,000 after acquiring an additional 282 shares during the last quarter. Empowered Funds LLC increased its stake in Ingersoll Rand by 6.2% during the first quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company's stock worth $619,000 after acquiring an additional 454 shares during the last quarter. Woodline Partners LP bought a new stake in Ingersoll Rand during the first quarter worth approximately $643,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Ingersoll Rand by 663.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 74,615 shares of the industrial products company's stock worth $6,206,000 after acquiring an additional 64,838 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IR. Citigroup reduced their price objective on Ingersoll Rand from $113.00 to $109.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Evercore set a $84.00 price objective on Ingersoll Rand in a research note on Monday, May 11th. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $101.00 to $90.00 and set a "hold" rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley reduced their price objective on Ingersoll Rand from $92.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Ingersoll Rand in a research note on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $92.75.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 30,492 shares of the company's stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $88.00, for a total transaction of $2,683,296.00. Following the transaction, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 0.49% of the company's stock.

Ingersoll Rand Trading Up 0.4%

IR opened at $72.26 on Friday. The stock has a market cap of $28.28 billion, a price-to-earnings ratio of 48.83, a P/E/G ratio of 4.55 and a beta of 1.19. The stock's 50 day moving average price is $77.55 and its 200-day moving average price is $82.74. Ingersoll Rand Inc. has a one year low of $68.07 and a one year high of $100.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.23.

Ingersoll Rand (NYSE:IR - Get Free Report) last released 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 firm had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.83 billion. Ingersoll Rand had a return on equity of 12.79% and a net margin of 7.54%.The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.37 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were paid 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 dividend yield of 0.1%. Ingersoll Rand's dividend payout ratio is currently 5.41%.

Ingersoll Rand Company Profile

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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