Ingersoll Rand Inc. $IR Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its position in Ingersoll Rand Inc. (NYSE:IR) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 916,852 shares of the industrial products company’s stock after selling 42,184 shares during the period. TD Asset Management Inc’s holdings in Ingersoll Rand were worth $76,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sowell Financial Services LLC purchased a new stake in Ingersoll Rand during the 1st quarter valued at about $262,000. Concurrent Investment Advisors LLC raised its stake in shares of Ingersoll Rand by 14.4% in the first 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. lifted its holdings in shares of Ingersoll Rand by 9.4% during the first 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 period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ingersoll Rand by 14.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock valued at $58,147,000 after buying an additional 91,777 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Ingersoll Rand by 2.5% in 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 buying an additional 4,690 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IR shares. Barclays dropped their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Robert W. Baird upped their price target on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Stifel Nicolaus set a $78.00 price objective on Ingersoll Rand and gave the company a “hold” rating in a research note on Monday, August 4th. Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Finally, Morgan Stanley dropped their target price on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Ingersoll Rand Stock Down 0.6%

Shares of IR opened at $76.80 on Thursday. The firm has a market cap of $30.52 billion, a P/E ratio of 60.00, a PEG ratio of 4.56 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 stock’s 50 day moving average is $79.82 and its two-hundred day moving average is $80.24. 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) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $0.83 EPS. The business’s revenue 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 predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s payout ratio is currently 6.25%.

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.