Hartford Funds Management Co LLC Sells 9,414 Shares of Ingersoll Rand Inc. $IR

Hartford Funds Management Co LLC lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 95.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406 shares of the industrial products company’s stock after selling 9,414 shares during the period. Hartford Funds Management Co LLC’s holdings in Ingersoll Rand were worth $34,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IR. NewSquare Capital LLC boosted its holdings in shares of Ingersoll Rand by 150.7% during the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 205 shares in the last quarter. Larson Financial Group LLC raised its position in Ingersoll Rand by 136.4% in the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 285 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ingersoll Rand during the first quarter valued at about $40,000. Gladwyn Financial Advisors Inc. bought a new stake in shares of Ingersoll Rand during the second quarter worth about $42,000. Finally, Legacy Wealth Managment LLC ID acquired a new position in shares of Ingersoll Rand in the first quarter valued at approximately $43,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of IR opened at $77.50 on Monday. The firm’s fifty day simple moving average is $79.55 and its two-hundred day simple moving average is $81.06. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $30.62 billion, a P/E ratio of 57.41, a price-to-earnings-growth ratio of 4.99 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand’s payout ratio is currently 5.93%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Morgan Stanley lowered their target price on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Citigroup reduced their price target on Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, Barclays lowered their price objective on Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.64.

Ingersoll Rand 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.