DAVENPORT & Co LLC Trims Holdings in Ingersoll Rand Inc. $IR

DAVENPORT & Co LLC cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,737 shares of the industrial products company’s stock after selling 285 shares during the quarter. DAVENPORT & Co LLC’s holdings in Ingersoll Rand were worth $1,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Wealth Management LLC grew its position in shares of Ingersoll Rand by 62.8% in the 1st 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 during the period. Golden State Wealth Management LLC grew its position in shares of Ingersoll Rand by 190.9% in the 1st 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 during the period. Farmers & Merchants Investments Inc. grew its position in shares of Ingersoll Rand by 54.4% in the 1st 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 during the period. Larson Financial Group LLC grew its position in shares of Ingersoll Rand by 136.4% in the 1st 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 during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ingersoll Rand in the 1st quarter worth about $40,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IR shares. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Monday, July 14th. Citigroup reissued a “buy” rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Morgan Stanley cut their price objective on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Ingersoll Rand Trading Down 3.1%

IR stock opened at $76.05 on Friday. The firm has a fifty day moving average price of $79.88 and a 200 day moving average price of $80.32. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The firm has a market cap of $30.23 billion, a PE ratio of 59.41, a price-to-earnings-growth ratio of 4.63 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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 analyst estimates of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. Ingersoll Rand’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 14th. Ingersoll Rand’s payout ratio is presently 6.25%.

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.