Ingersoll Rand Inc. $IR Shares Sold by Credit Agricole S A

Credit Agricole S A lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 16.5% in the first quarter, HoldingsChannel reports. The fund owned 152,362 shares of the industrial products company’s stock after selling 30,137 shares during the quarter. Credit Agricole S A’s holdings in Ingersoll Rand were worth $12,194,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sowell Financial Services LLC acquired a new position in shares of Ingersoll Rand during the 1st quarter worth about $262,000. Concurrent Investment Advisors LLC raised its position in shares of Ingersoll Rand by 14.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 385 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Ingersoll Rand by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company’s stock worth $614,000 after purchasing an additional 660 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ingersoll Rand by 14.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock worth $58,147,000 after purchasing an additional 91,777 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Ingersoll Rand by 2.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock worth $15,285,000 after purchasing an additional 4,690 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 0.7%

IR stock opened at $79.2860 on Thursday. The company has a market cap of $31.51 billion, a price-to-earnings ratio of 61.94, a PEG ratio of 4.50 and a beta of 1.41. 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 Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The firm has a 50-day moving average of $83.14 and a two-hundred day moving average of $81.60.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share 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 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 company posted $0.83 EPS. The business’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. As a group, analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio is 6.25%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IR shares. 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 target for the company. in a research report on Monday, July 14th. Barclays reduced their price target 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. 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 report on Tuesday, July 1st. Finally, Citigroup reiterated a “buy” rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.75.

About Ingersoll Rand

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.