Ingersoll Rand Inc. $IR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 5.7% in the 1st quarter, Holdings Channel reports. The firm owned 884,785 shares of the industrial products company’s stock after selling 53,208 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ingersoll Rand were worth $70,889,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IR. Deseret Mutual Benefit Administrators boosted its holdings in Ingersoll Rand by 46.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 112 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Ingersoll Rand in the 4th quarter worth about $29,000. Reflection Asset Management acquired a new position in Ingersoll Rand in the fourth quarter valued at approximately $31,000. Torren Management LLC acquired a new position in Ingersoll Rand during the 4th quarter valued at approximately $32,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Ingersoll Rand by 166.9% during the fourth quarter. Salomon & Ludwin LLC now owns 427 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 267 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Stifel Nicolaus dropped their price target on Ingersoll Rand from $101.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Robert W. Baird set a $103.00 price objective on Ingersoll Rand in a report on Thursday, April 30th. Morgan Stanley reduced their target price on Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Finally, Weiss Ratings lowered shares of Ingersoll Rand from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $92.75.

Ingersoll Rand Stock Performance

IR stock traded up $1.92 on Friday, reaching $78.97. 3,122,690 shares of the company were exchanged, compared to its average volume of 3,971,077. The stock’s fifty day moving average price is $75.19 and its 200 day moving average price is $82.57. Ingersoll Rand Inc. has a 12 month low of $68.07 and a 12 month high of $100.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.23 and a quick ratio of 1.59. The firm has a market capitalization of $30.90 billion, a PE ratio of 53.36, a PEG ratio of 4.99 and a beta of 1.17.

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

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 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 5.41%.

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 30,492 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $88.00, for a total transaction of $2,683,296.00. Following the transaction, the insider owned 209,534 shares of the company’s stock, valued at $18,438,992. This represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.49% of the stock is owned by company insiders.

Ingersoll Rand Company 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.