Voya Investment Management LLC Sells 21,840 Shares of Ingersoll Rand Inc. $IR

Voya Investment Management LLC trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 7.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 259,696 shares of the industrial products company’s stock after selling 21,840 shares during the period. Voya Investment Management LLC’s holdings in Ingersoll Rand were worth $21,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EP Wealth Advisors LLC grew its stake in Ingersoll Rand by 2.4% in the first quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company’s stock valued at $474,000 after purchasing an additional 136 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Ingersoll Rand by 0.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 18,708 shares of the industrial products company’s stock valued at $1,556,000 after buying an additional 138 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its stake in shares of Ingersoll Rand by 5.3% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,942 shares of the industrial products company’s stock valued at $235,000 after buying an additional 147 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Ingersoll Rand by 14.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,206 shares of the industrial products company’s stock valued at $100,000 after buying an additional 150 shares in the last quarter. Finally, AE Wealth Management LLC raised its position in Ingersoll Rand by 5.5% during the second quarter. AE Wealth Management LLC now owns 2,916 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on IR shares. Robert W. Baird decreased their price objective on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Wells Fargo & Company lifted their price target on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Citigroup raised their price objective on Ingersoll Rand from $91.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $91.44.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of Ingersoll Rand stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $80.63, for a total value of $119,090.51. Following the completion of the sale, the chief accounting officer owned 12,153 shares in the company, valued at $979,896.39. The trade was a 10.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $79.24 on Monday. The firm has a market cap of $31.31 billion, a P/E ratio of 58.70, a price-to-earnings-growth ratio of 5.12 and a beta of 1.33. The business’s 50 day moving average is $78.30 and its 200-day moving average is $80.74. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $95.85.

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

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 13th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, November 13th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.93%.

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.