SG Americas Securities LLC Trims Holdings in Ingersoll Rand Inc. $IR

SG Americas Securities LLC cut its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 60.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,141 shares of the industrial products company’s stock after selling 32,242 shares during the quarter. SG Americas Securities LLC’s holdings in Ingersoll Rand were worth $1,747,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in Ingersoll Rand by 12.7% in the 1st quarter. AQR Capital Management LLC now owns 37,078 shares of the industrial products company’s stock worth $2,904,000 after acquiring an additional 4,167 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Ingersoll Rand by 4.8% during the first quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company’s stock worth $494,000 after purchasing an additional 282 shares during the last quarter. Empowered Funds LLC grew its position in shares of Ingersoll Rand by 6.2% in the first quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company’s stock valued at $619,000 after purchasing an additional 454 shares during the period. Woodline Partners LP acquired a new position in Ingersoll Rand in the first quarter valued at $643,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Ingersoll Rand by 36.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,824 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 484 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In related news, CAO Michael J. Scheske sold 1,477 shares of the firm’s 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 sale, the chief accounting officer directly owned 12,153 shares in the company, valued at approximately $979,896.39. This trade represents a 10.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.59% of the company’s stock.

Ingersoll Rand Price Performance

IR opened at $87.31 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $95.85. The company has a 50 day moving average of $80.02 and a two-hundred day moving average of $80.77. The company has a market cap of $34.50 billion, a P/E ratio of 64.67, a P/E/G ratio of 5.43 and a beta of 1.33.

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

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio is presently 5.93%.

Wall Street Analyst Weigh In

IR has been the subject of several recent analyst reports. Citigroup lifted their price target on Ingersoll Rand from $94.00 to $98.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Robert W. Baird dropped their price target 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. Zacks Research upgraded shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Finally, Wells Fargo & Company upped their price objective on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $91.56.

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.