Resona Asset Management Co. Ltd. Cuts Stock Holdings in Ingersoll Rand Inc. $IR

Resona Asset Management Co. Ltd. decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 122,485 shares of the industrial products company’s stock after selling 8,700 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Ingersoll Rand were worth $9,740,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hudson Bay Capital Management LP purchased a new stake in shares of Ingersoll Rand during the third quarter valued at approximately $1,533,000. Nordea Investment Management AB grew its holdings in shares of Ingersoll Rand by 9.9% during the fourth quarter. Nordea Investment Management AB now owns 2,219,327 shares of the industrial products company’s stock valued at $177,324,000 after buying an additional 200,689 shares during the last quarter. National Pension Service grew its holdings in shares of Ingersoll Rand by 2.7% during the third quarter. National Pension Service now owns 617,981 shares of the industrial products company’s stock valued at $51,058,000 after buying an additional 16,084 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Ingersoll Rand by 79.0% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,411 shares of the industrial products company’s stock valued at $2,347,000 after buying an additional 12,539 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co grew its holdings in shares of Ingersoll Rand by 8.8% during the third quarter. Varma Mutual Pension Insurance Co now owns 154,664 shares of the industrial products company’s stock valued at $12,778,000 after buying an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore set a $84.00 price target on shares of Ingersoll Rand in a report on Monday, May 11th. Wells Fargo & Company dropped their target price on shares of Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a report on Friday, March 27th. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $101.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Finally, Citigroup dropped their target price on shares of Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.38.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 118,044 shares of Ingersoll Rand stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $94.11, for a total transaction of $11,109,120.84. Following the transaction, the insider owned 209,534 shares in the company, valued at $19,719,244.74. This trade represents a 36.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Ingersoll Rand Trading Down 0.1%

Shares of IR stock opened at $70.31 on Friday. Ingersoll Rand Inc. has a 12-month low of $68.07 and a 12-month high of $100.96. The company has a current ratio of 2.23, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $80.06 and its 200 day moving average is $83.22. The stock has a market capitalization of $27.52 billion, a P/E ratio of 47.51, a P/E/G ratio of 4.45 and a beta of 1.25.

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

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be paid 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 is Thursday, May 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.41%.

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.