The Manufacturers Life Insurance Company Has $18.79 Million Position in Ingersoll Rand Inc. $IR

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Ingersoll Rand Inc. by 66.2%, now holding 234,798 shares valued at approximately $18.79 million.
• Ingersoll Rand reported $0.80 earnings per share, matching the consensus estimate, with revenue increasing by 4.6% year-over-year to $1.89 billion.
• The company announced a quarterly dividend of $0.02 per share, with a dividend yield of 0.1% and a payout ratio of 6.25%.

The Manufacturers Life Insurance Company trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 66.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 234,798 shares of the industrial products company's stock after selling 459,595 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Ingersoll Rand worth $18,791,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IR. Aptus Capital Advisors LLC lifted its holdings in Ingersoll Rand by 55.1% during the 4th quarter. Aptus Capital Advisors LLC now owns 4,080 shares of the industrial products company's stock worth $369,000 after purchasing an additional 1,450 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Ingersoll Rand by 144.8% during the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock worth $45,000 after purchasing an additional 294 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Ingersoll Rand by 1.9% during the 4th quarter. Benjamin Edwards Inc. now owns 11,769 shares of the industrial products company's stock worth $1,065,000 after purchasing an additional 222 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in Ingersoll Rand during the 4th quarter worth approximately $264,000. Finally, Captrust Financial Advisors lifted its holdings in Ingersoll Rand by 11.8% during the 4th quarter. Captrust Financial Advisors now owns 13,387 shares of the industrial products company's stock worth $1,211,000 after purchasing an additional 1,409 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded up $1.72 during trading on Friday, reaching $80.92. 3,149,678 shares of the company's stock were exchanged, compared to its average volume of 2,271,512. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a market cap of $32.16 billion, a P/E ratio of 63.22, a PEG ratio of 4.58 and a beta of 1.40. The firm's 50-day moving average price is $82.51 and its 200 day moving average price is $80.65.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting analysts' consensus estimates of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The company 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 firm earned $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. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is 6.25%.

Analysts Set New Price Targets

Several analysts recently weighed in on IR shares. Citigroup reissued a "buy" rating and set a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Robert W. Baird lifted their price target on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Wells Fargo & Company lifted their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Morgan Stanley dropped their price target on 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, Barclays dropped their price objective on Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $97.75.

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.