Ingersoll Rand Inc. $IR Stake Lessened by Voya Investment Management LLC

Voya Investment Management LLC decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,696 shares of the industrial products company’s stock after selling 21,840 shares during the quarter. Voya Investment Management LLC owned 0.07% of Ingersoll Rand worth $21,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IR. AlphaQuest LLC purchased a new position in Ingersoll Rand in the first quarter valued at about $604,000. Smartleaf Asset Management LLC boosted its stake in Ingersoll Rand by 11.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,207 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 220 shares during the period. APG Asset Management N.V. boosted its position in shares of Ingersoll Rand by 242.3% in the first quarter. APG Asset Management N.V. now owns 754,752 shares of the industrial products company’s stock valued at $55,918,000 after acquiring an additional 534,252 shares during the period. Bank of Hawaii acquired a new stake in Ingersoll Rand in the 1st quarter worth $207,000. Finally, Harvest Portfolios Group Inc. increased its stake in Ingersoll Rand by 29.9% during the first quarter. Harvest Portfolios Group Inc. now owns 21,819 shares of the industrial products company’s stock valued at $1,746,000 after acquiring an additional 5,019 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the transaction, the chief accounting officer owned 12,153 shares of the company’s stock, valued at $979,896.39. This represents a 10.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on IR shares. Robert W. Baird cut their price target on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, December 15th. Finally, Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating and seven have given 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 $91.44.

Ingersoll Rand Stock Up 0.5%

Ingersoll Rand stock opened at $79.24 on Monday. The company has a 50 day moving average of $78.30 and a 200-day moving average of $80.74. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $95.85. The stock has a market capitalization of $31.31 billion, a PE ratio of 58.70, a price-to-earnings-growth ratio of 5.12 and a beta of 1.33.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, November 13th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.93%.

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.