UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Trims Stake in Ingersoll Rand Inc. $IR

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.7% during the first quarter, Holdings Channel reports. The fund owned 4,056,482 shares of the industrial products company’s stock after selling 153,996 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC’s holdings in Ingersoll Rand were worth $324,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in shares of Ingersoll Rand during the 1st quarter worth approximately $262,000. Concurrent Investment Advisors LLC grew its holdings in shares of Ingersoll Rand by 14.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 385 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Ingersoll Rand by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company’s stock worth $614,000 after acquiring an additional 660 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ingersoll Rand by 14.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock worth $58,147,000 after purchasing an additional 91,777 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 4,690 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on IR. Morgan Stanley dropped their price target on 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. Wells Fargo & Company boosted their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock 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 stock a “hold” rating in a research report on Monday, August 4th. Citigroup reissued a “buy” rating and issued a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Finally, Robert W. Baird boosted their price target on Ingersoll Rand from $97.00 to $103.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.75.

Ingersoll Rand Price Performance

NYSE IR opened at $80.15 on Thursday. The business’s fifty day moving average price is $82.21 and its 200-day moving average price is $80.57. The stock has a market capitalization of $31.85 billion, a price-to-earnings ratio of 62.61, a PEG ratio of 4.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $106.03.

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

Ingersoll Rand Dividend Announcement

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