Truist Financial Corp Sells 3,954 Shares of Ingersoll Rand Inc. $IR

Key Points

• Truist Financial Corp reduced its holdings in Ingersoll Rand Inc. by 4.4% in Q2, selling 3,954 shares and holding a total of 85,503 shares valued at approximately $7.1 million.
• Wall Street analysts have mixed views on Ingersoll Rand, with Wells Fargo raising its price target to $95, while others like Morgan Stanley and Melius lowered their targets and ratings.
• Ingersoll Rand's recent earnings report exceeded revenue expectations with a net margin of 7.10% and earnings per share of $0.80, leading to a growth forecast of $3.34 to $3.46 for FY 2025.

Truist Financial Corp trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,503 shares of the industrial products company's stock after selling 3,954 shares during the quarter. Truist Financial Corp's holdings in Ingersoll Rand were worth $7,112,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in IR. Compass Wealth Management LLC grew its holdings in shares of Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after buying an additional 137 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after acquiring an additional 313 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after acquiring an additional 172 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 285 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Ingersoll Rand in the first quarter valued at approximately $40,000. Institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Ingersoll Rand from $83.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday. Barclays reduced their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Weiss Ratings restated a "hold (c-)" rating on shares of Ingersoll Rand in a research note on Saturday, September 27th. Morgan Stanley reduced their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Finally, Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target for the company. in a research note on Monday, July 14th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.00.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $83.39 on Tuesday. The stock has a 50-day moving average price of $80.20 and a two-hundred day moving average price of $80.38. The company has a market capitalization of $33.14 billion, a PE ratio of 65.15, a P/E/G ratio of 4.92 and a beta of 1.43. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The company's revenue for the quarter was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

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