Ingersoll Rand Inc. $IR Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC significantly reduced its stake in Ingersoll Rand by 87%, selling over 1.7 million shares, which leaves it with 260,840 shares valued at approximately $20.80 million.
• Ingersoll Rand recently reported earnings of $0.80 per share, meeting analysts' expectations, with revenue rising 4.6% year-over-year to $1.89 billion.
• The company's stock has a market capitalization of $31.35 billion and analysts have set a consensus target price of $97.75 for Ingersoll Rand shares.

Voya Investment Management LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 87.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,840 shares of the industrial products company's stock after selling 1,753,329 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Ingersoll Rand worth $20,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of Ingersoll Rand during the 1st quarter valued at about $26,297,000. Ransom Advisory Ltd acquired a new position in shares of Ingersoll Rand during the 1st quarter valued at about $236,000. Glenview Trust co increased its stake in shares of Ingersoll Rand by 2.6% during the 1st quarter. Glenview Trust co now owns 192,203 shares of the industrial products company's stock valued at $15,382,000 after acquiring an additional 4,859 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Ingersoll Rand during the 1st quarter valued at about $643,000. Finally, Empowered Funds LLC increased its stake in shares of Ingersoll Rand by 6.2% during the 1st quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company's stock valued at $619,000 after acquiring an additional 454 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Up 0.3%

Shares of Ingersoll Rand stock traded up $0.25 on Friday, hitting $81.78. 13,597,969 shares of the company's stock traded hands, compared to its average volume of 2,895,086. The stock has a market cap of $32.50 billion, a P/E ratio of 63.89, a PEG ratio of 4.60 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. The firm's 50-day moving average is $81.12 and its 200 day moving average is $80.42. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The business's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently issued reports on IR shares. Morgan Stanley dropped 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. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird increased their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Barclays dropped their target price 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. Finally, Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the stock a "hold" rating in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.