USS Investment Management Ltd Reduces Holdings in Ingersoll Rand Inc. $IR

Key Points

• USS Investment Management Ltd has significantly reduced its stake in Ingersoll Rand Inc. by 85.5%, selling 17,200 shares and now holding only 2,914 shares valued at $233,000.
• Investment analysts have mixed opinions on Ingersoll Rand, with ratings ranging from “buy” to “hold”, and an average target price of $97.75.
• Ingersoll Rand recently reported earnings of $0.80 per share for the last quarter, meeting expectations, with revenues of $1.89 billion, which exceeded analyst forecasts.

USS Investment Management Ltd lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 85.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,914 shares of the industrial products company's stock after selling 17,200 shares during the quarter. USS Investment Management Ltd's holdings in Ingersoll Rand were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UniSuper Management Pty Ltd boosted its stake in shares of Ingersoll Rand by 9.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 37,912 shares of the industrial products company's stock valued at $3,034,000 after buying an additional 3,365 shares during the period. Petrus Trust Company LTA boosted its stake in shares of Ingersoll Rand by 57.0% in the 1st quarter. Petrus Trust Company LTA now owns 5,147 shares of the industrial products company's stock valued at $412,000 after buying an additional 1,868 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Ingersoll Rand by 1.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 49,120 shares of the industrial products company's stock valued at $3,931,000 after buying an additional 545 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Ingersoll Rand by 4.8% in the 1st quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company's stock valued at $494,000 after buying an additional 282 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ingersoll Rand by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,112 shares of the industrial products company's stock valued at $3,450,000 after buying an additional 1,921 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

NYSE IR traded down $2.15 on Friday, reaching $78.87. The stock had a trading volume of 3,643,370 shares, compared to its average volume of 2,497,093. 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 12-month low of $65.61 and a 12-month high of $106.03. The business's 50-day moving average price is $81.93 and its 200 day moving average price is $80.53. The stock has a market cap of $31.35 billion, a P/E ratio of 61.62, a price-to-earnings-growth ratio of 4.57 and a beta of 1.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company's quarterly 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. As a group, equities analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a $0.02 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is presently 6.25%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Robert W. Baird boosted their target price on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Morgan Stanley decreased their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Finally, Citigroup restated a "buy" rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand 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.