Teacher Retirement System of Texas Reduces Holdings in Ingersoll Rand Inc. $IR

Teacher Retirement System of Texas lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,852 shares of the industrial products company’s stock after selling 8,366 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ingersoll Rand were worth $4,367,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in shares of Ingersoll Rand by 12.3% during the third quarter. Nordea Investment Management AB now owns 2,018,638 shares of the industrial products company’s stock worth $165,811,000 after acquiring an additional 220,815 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Ingersoll Rand during the 2nd quarter valued at $8,375,000. Fisher Asset Management LLC lifted its holdings in Ingersoll Rand by 0.6% during the 2nd quarter. Fisher Asset Management LLC now owns 6,913,924 shares of the industrial products company’s stock worth $575,100,000 after purchasing an additional 38,999 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Ingersoll Rand by 26.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 86,865 shares of the industrial products company’s stock worth $7,177,000 after purchasing an additional 18,151 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Ingersoll Rand by 18.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 41,272 shares of the industrial products company’s stock valued at $3,410,000 after buying an additional 6,464 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Down 0.6%

NYSE IR opened at $86.24 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $81.83 and its two-hundred day simple moving average is $80.72. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $95.85. The company has a market capitalization of $34.07 billion, a price-to-earnings ratio of 63.88, a PEG ratio of 5.47 and a beta of 1.33.

Ingersoll Rand (NYSE:IR) last posted 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 firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.Ingersoll Rand’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 191,000 shares of Ingersoll Rand stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $88.12, for a total transaction of $16,830,920.00. Following the transaction, the insider directly owned 193,186 shares of the company’s stock, valued at approximately $17,023,550.32. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the sale, the chief accounting officer directly owned 12,153 shares of the company’s stock, valued at $979,896.39. This trade represents a 10.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $87.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Robert W. Baird lowered their price objective on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Citigroup boosted their target price on Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.13.

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.