Ingersoll Rand Inc. $IR Stock Holdings Lowered by The Manufacturers Life Insurance Company

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rathbones Group PLC lifted its position in 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 buying an additional 121 shares in the last quarter. Compass Wealth Management LLC lifted its position in Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after buying an additional 137 shares in the last quarter. CWM LLC lifted its position in Ingersoll Rand by 1.5% during the first quarter. CWM LLC now owns 10,655 shares of the industrial products company's stock valued at $853,000 after buying an additional 161 shares in the last quarter. Rothschild Investment LLC lifted its position in Ingersoll Rand by 33.5% during the first quarter. Rothschild Investment LLC now owns 654 shares of the industrial products company's stock valued at $52,000 after buying an additional 164 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its position in Ingersoll Rand by 1.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 13,342 shares of the industrial products company's stock valued at $1,207,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Wall Street Analyst Weigh In

IR has been the topic of a number of recent research reports. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Melius downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a research report on Monday, July 14th. 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 report on Monday, August 4th. Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Barclays lowered their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research 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. According to MarketBeat, Ingersoll Rand has an average rating of "Hold" and an average target price of $97.75.

Ingersoll Rand Stock Down 0.3%

Shares of IR traded down $0.22 during trading on Monday, reaching $80.73. The company's stock had a trading volume of 1,050,302 shares, compared to its average volume of 2,909,211. The company has a fifty day moving average of $82.51 and a two-hundred day moving average of $80.61. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $106.03. The company has a market cap of $32.09 billion, a price-to-earnings ratio of 63.17, a P/E/G ratio of 4.58 and a beta of 1.40. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company posted $0.83 EPS. Ingersoll Rand's quarterly 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, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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