Korea Investment CORP Decreases Stock Holdings in Ingersoll Rand Inc. $IR

Korea Investment CORP lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,221 shares of the industrial products company’s stock after selling 35,284 shares during the quarter. Korea Investment CORP’s holdings in Ingersoll Rand were worth $20,148,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Ingersoll Rand in the 2nd quarter worth approximately $8,375,000. Quadrant Capital Group LLC lifted its holdings in shares of Ingersoll Rand by 53.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 10,627 shares of the industrial products company’s stock valued at $884,000 after buying an additional 3,684 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Ingersoll Rand by 12.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 338,036 shares of the industrial products company’s stock worth $28,171,000 after buying an additional 37,426 shares during the last quarter. Elo Mutual Pension Insurance Co grew its holdings in shares of Ingersoll Rand by 11.8% in the second quarter. Elo Mutual Pension Insurance Co now owns 34,595 shares of the industrial products company’s stock worth $2,878,000 after acquiring an additional 3,644 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Ingersoll Rand by 6.5% during the second quarter. Advisors Asset Management Inc. now owns 18,266 shares of the industrial products company’s stock valued at $1,519,000 after acquiring an additional 1,111 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Robert W. Baird reduced their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Citigroup dropped their price target on shares of Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Stifel Nicolaus upped their price objective on Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Hold” and an average target price of $93.90.

Ingersoll Rand Stock Performance

IR opened at $80.34 on Friday. The company has a 50 day simple moving average of $78.78 and a two-hundred day simple moving average of $80.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51. The firm has a market cap of $31.74 billion, a P/E ratio of 59.51, a PEG ratio of 5.19 and a beta of 1.43. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $105.65.

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

Ingersoll Rand Dividend Announcement

The firm 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 of this dividend is Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio is 5.93%.

About Ingersoll Rand

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.