TD Asset Management Inc Sells 42,184 Shares of Ingersoll Rand Inc. $IR

TD Asset Management Inc lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 916,852 shares of the industrial products company’s stock after selling 42,184 shares during the quarter. TD Asset Management Inc owned approximately 0.23% of Ingersoll Rand worth $76,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sowell Financial Services LLC purchased a new stake in shares of Ingersoll Rand during the first quarter valued at $262,000. Concurrent Investment Advisors LLC boosted its position in Ingersoll Rand by 14.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock valued at $245,000 after buying an additional 385 shares during the period. QRG Capital Management Inc. grew its stake in Ingersoll Rand by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company’s stock worth $614,000 after acquiring an additional 660 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ingersoll Rand by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock worth $58,147,000 after acquiring an additional 91,777 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Ingersoll Rand by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock valued at $15,285,000 after acquiring an additional 4,690 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Melius downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a report on Monday, July 14th. Wells Fargo & Company increased their price target on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingersoll Rand in a research note on Wednesday, October 8th. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Finally, Morgan Stanley reduced their price target on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Ingersoll Rand Stock Down 0.6%

Shares of Ingersoll Rand stock opened at $76.80 on Thursday. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The company has a market cap of $30.52 billion, a P/E ratio of 60.00, a PEG ratio of 4.56 and a beta of 1.43. The firm’s 50 day moving average price is $79.82 and its 200-day moving average price is $80.24. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm earned $0.83 earnings per share. Ingersoll Rand’s revenue was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a $0.02 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is 6.25%.

Ingersoll Rand Company 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.