CIBC Asset Management Inc Has $7.15 Million Position in Ingersoll Rand Inc. $IR

CIBC Asset Management Inc increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 62.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,301 shares of the industrial products company’s stock after acquiring an additional 34,730 shares during the period. CIBC Asset Management Inc’s holdings in Ingersoll Rand were worth $7,154,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in IR. Capital International Investors boosted its position in shares of Ingersoll Rand by 18.5% during the 3rd quarter. Capital International Investors now owns 50,002,133 shares of the industrial products company’s stock valued at $4,131,157,000 after acquiring an additional 7,816,194 shares in the last quarter. Norges Bank acquired a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $407,915,000. Capital World Investors boosted its position in shares of Ingersoll Rand by 19.2% during the 3rd quarter. Capital World Investors now owns 31,787,657 shares of the industrial products company’s stock valued at $2,626,296,000 after acquiring an additional 5,110,668 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Ingersoll Rand by 14.3% during the 3rd quarter. Capital Research Global Investors now owns 19,254,676 shares of the industrial products company’s stock valued at $1,590,818,000 after acquiring an additional 2,406,183 shares in the last quarter. Finally, Swedbank AB boosted its position in shares of Ingersoll Rand by 72.4% during the 4th quarter. Swedbank AB now owns 3,878,349 shares of the industrial products company’s stock valued at $307,243,000 after acquiring an additional 1,628,996 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Vicente Reynal sold 30,492 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $88.00, for a total transaction of $2,683,296.00. Following the transaction, the insider directly owned 209,534 shares in the company, valued at approximately $18,438,992. This represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IR. Citigroup decreased their target price on shares of Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley decreased their price objective on shares of Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their price objective on shares of Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Robert W. Baird set a $103.00 price objective on shares of Ingersoll Rand in a research note on Thursday, April 30th. Finally, Wall Street Zen cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $92.75.

Check Out Our Latest Analysis on IR

Ingersoll Rand Price Performance

Shares of IR stock opened at $72.26 on Friday. Ingersoll Rand Inc. has a 1 year low of $68.07 and a 1 year high of $100.96. The firm’s 50 day moving average is $77.55 and its 200-day moving average is $82.74. The firm has a market capitalization of $28.28 billion, a price-to-earnings ratio of 48.83, a PEG ratio of 4.55 and a beta of 1.19. The company has a current ratio of 2.23, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IRGet Free Report) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business earned $0.72 earnings per share. Ingersoll Rand’s quarterly revenue was up 7.6% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. Sell-side analysts forecast that Ingersoll Rand Inc. will post 3.37 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, May 14th. Ingersoll Rand’s dividend payout ratio is presently 5.41%.

Ingersoll Rand Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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