HighTower Advisors LLC Sells 47,562 Shares of Ingersoll Rand Inc. $IR

HighTower Advisors LLC cut its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 56.5% in the first quarter, Holdings Channel reports. The institutional investor owned 36,615 shares of the industrial products company’s stock after selling 47,562 shares during the period. HighTower Advisors LLC’s holdings in Ingersoll Rand were worth $2,930,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IR. Compass Wealth Management LLC grew its holdings in shares of Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after buying an additional 137 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after buying an additional 286 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Ingersoll Rand by 190.9% during the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after buying an additional 313 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Ingersoll Rand by 54.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock worth $39,000 after buying an additional 172 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Ingersoll Rand by 136.4% during the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock worth $39,000 after buying an additional 285 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $80.5590 on Friday. 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 stock has a 50 day moving average of $83.04 and a 200-day moving average of $81.42. The company has a market capitalization of $32.02 billion, a P/E ratio of 62.94, a P/E/G ratio of 4.37 and a beta of 1.41.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company increased their price target on Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Stifel Nicolaus set a $78.00 price target on Ingersoll Rand and gave the company a “hold” rating in a research note on Monday, August 4th. Melius downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a research note on Monday, July 14th. Melius Research set a $93.00 price target on Ingersoll Rand in a research note on Monday, July 14th. Finally, Barclays decreased their price target on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.