Tema Etfs LLC Purchases 33,930 Shares of Ingersoll Rand Inc. $IR

Key Points

• Tema Etfs LLC increased its stake in Ingersoll Rand by 49.7%, owning a total of 102,189 shares valued at approximately $8.18 million, making it the 9th largest holding in their portfolio.
• Ingersoll Rand reported a net margin of 7.10% and quarterly earnings of $0.80 per share, aligning with analyst estimates, and projected FY 2025 earnings of 3.340-3.460 EPS.
• The company announced a quarterly dividend of $0.02 per share and initiated a stock buyback plan worth $1.00 billion, indicating confidence in its stock value.

Tema Etfs LLC grew its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 49.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,189 shares of the industrial products company's stock after acquiring an additional 33,930 shares during the period. Ingersoll Rand accounts for 2.4% of Tema Etfs LLC's holdings, making the stock its 9th biggest holding. Tema Etfs LLC's holdings in Ingersoll Rand were worth $8,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new position in Ingersoll Rand in the 1st quarter worth about $262,000. Concurrent Investment Advisors LLC grew its stake in Ingersoll Rand by 14.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after acquiring an additional 385 shares in the last quarter. QRG Capital Management Inc. grew its stake in Ingersoll Rand by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock worth $614,000 after acquiring an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ingersoll Rand by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company's stock valued at $58,147,000 after purchasing an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Ingersoll Rand by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company's stock valued at $15,285,000 after purchasing an additional 4,690 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IR has been the topic of a number of recent research reports. Robert W. Baird increased 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. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research note on Monday, July 14th. Melius downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price for the company. in a research note on Monday, July 14th. Morgan Stanley decreased their price target on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Finally, Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $97.75.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded down $0.82 during trading on Monday, hitting $79.44. 1,923,003 shares of the company's stock were exchanged, compared to its average volume of 2,805,934. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The business has a 50-day simple moving average of $82.98 and a 200-day simple moving average of $80.86. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The stock has a market capitalization of $31.57 billion, a price-to-earnings ratio of 62.07, a PEG ratio of 4.48 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued 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 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 last year, the company posted $0.83 earnings per share. The firm's revenue was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

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

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.