First Eagle Investment Management LLC owns $513,000 in Ingersoll Rand Inc. (NYSE:IR)

VaselineSeptember 22, 2024

0 4 minutes read

Ingersoll Rand logo First Eagle Investment Management LLC reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) by 30.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,649 shares of the industrial products company’s stock after selling 2,477 shares during the quarter. First Eagle Investment Management LLC’s holdings in Ingersoll Rand were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have recently modified their holdings of IR. DA Davidson & CO. bought a new position in shares of Ingersoll Rand in the fourth quarter valued at about $301,000. Avantax Planning Partners Inc. bought a new position in shares of Ingersoll Rand in the fourth quarter valued at about $204,000. Team Hewins LLC bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $239,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Ingersoll Rand by 3.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 106,831 shares of the industrial products company’s stock worth $8,262,000 after purchasing an additional 3,458 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Ingersoll Rand by 11.1% in the fourth quarter. Hsbc Holdings PLC now owns 631,856 shares of the industrial products company’s stock worth $48,915,000 after buying an additional 63,223 shares during the period. Institutional investors own 95.27% of the company’s shares.

Ingersoll Rand stock falls 0.9%

IR opened at $96.77 on Friday. The company has a fifty day moving average price of $92.46 and a 200 day moving average price of $92.26. The firm has a market cap of $39.04 billion, a P/E ratio of 48.14, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18, and a quick ratio of 1.52. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $101.30.

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Ingersoll Rand (NYSE:IR – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Equities research analysts expect that Ingersoll Rand Inc. to post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 15. This represents a dividend of $0.08 on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Changes in Analyst Ratings

A number of equities research analysts recently commented on IR shares. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Barclays cut their price target on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley began coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Finally, Cfra reiterated a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00, according to MarketBeat.com.

Get the latest stock analysis on IR

Indoor activity

In related news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the transaction, the insider now directly owns 6,559 shares in the company, valued at $599,623.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 over the last three months. Corporate insiders own 0.68% of the company’s shares.

Ingersoll Rand Profile

(Free Report)

Ingersoll Rand Inc provides various services and solutions to create the flow of air, gases, liquids and solids for critical missions worldwide. It operates through two segments, Industrial Technologies and Services and Precision Technologies and Science. 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 parts, supplies, air handling equipment, controls, other accessories and services under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle, etc. brands.