JPMorgan Chase & Co. Has $1.03 Billion Stake in Ingersoll Rand Inc. $IR

JPMorgan Chase & Co. reduced its holdings in Ingersoll Rand Inc. (NYSE:IR) by 31.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,478,481 shares of the industrial products company’s stock after selling 5,757,338 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ingersoll Rand were worth $1,030,979,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. State of New Jersey Common Pension Fund D boosted its stake in Ingersoll Rand by 3.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 137,629 shares of the industrial products company’s stock valued at $11,371,000 after purchasing an additional 4,764 shares during the period. Aberdeen Group plc lifted its holdings in shares of Ingersoll Rand by 0.6% during the third quarter. Aberdeen Group plc now owns 469,848 shares of the industrial products company’s stock worth $38,563,000 after buying an additional 2,713 shares during the last quarter. Assetmark Inc. boosted its position in shares of Ingersoll Rand by 7.8% in the third quarter. Assetmark Inc. now owns 177,879 shares of the industrial products company’s stock valued at $14,696,000 after acquiring an additional 12,891 shares during the period. Wedbush Securities Inc. grew its stake in shares of Ingersoll Rand by 6.7% in the third quarter. Wedbush Securities Inc. now owns 7,397 shares of the industrial products company’s stock worth $611,000 after acquiring an additional 465 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co increased its position in 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 worth $12,778,000 after acquiring an additional 12,500 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

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 stock was sold at an average price of $80.63, for a total transaction of $119,090.51. Following the transaction, the chief accounting officer directly owned 12,153 shares in the company, valued at approximately $979,896.39. The trade was a 10.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 440 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $100.00, for a total value of $44,000.00. Following the completion of the sale, the insider owned 229,668 shares of the company’s stock, valued at $22,966,800. This trade represents a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 292,917 shares of company stock valued at $26,747,912. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Trading Up 0.3%

NYSE:IR opened at $98.79 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.49 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 $100.96. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 68.13, a PEG ratio of 6.12 and a beta of 1.32. The business’s 50-day moving average price is $86.59 and its two-hundred day moving average price is $81.65.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 12th. The industrial products company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Ingersoll Rand had a return on equity of 12.62% and a net margin of 7.60%.Ingersoll Rand’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 4th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand’s payout ratio is 5.52%.

Analyst Ratings Changes

IR has been the subject of a number of research reports. Robert W. Baird set a $115.00 price target on shares of Ingersoll Rand in a report on Tuesday. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday. Stifel Nicolaus lifted their target price on Ingersoll Rand from $87.00 to $101.00 and gave the stock a “hold” rating in a research report on Tuesday. Barclays upped their price target on Ingersoll Rand from $91.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Citigroup raised their price objective 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 equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Hold” and a consensus target price of $100.50.

About Ingersoll Rand

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.