Teacher Retirement System of Texas Decreases Stake in Ingersoll Rand Inc. $IR

Teacher Retirement System of Texas lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,852 shares of the industrial products company’s stock after selling 8,366 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ingersoll Rand were worth $4,367,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC boosted its position in Ingersoll Rand by 150.7% during the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after buying an additional 205 shares during the period. Heartwood Wealth Advisors LLC bought a new position in shares of Ingersoll Rand during the third quarter valued at about $36,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Ingersoll Rand during the third quarter worth about $36,000. Gladwyn Financial Advisors Inc. bought a new stake in shares of Ingersoll Rand in the second quarter worth about $42,000. Finally, Legacy Investment Solutions LLC purchased a new position in Ingersoll Rand during the 2nd quarter valued at about $45,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $86.24 on Wednesday. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $95.85. The firm has a market capitalization of $34.07 billion, a P/E ratio of 63.88, a P/E/G ratio of 5.47 and a beta of 1.33. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $81.83 and a two-hundred day simple moving average of $80.72.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.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 company earned $0.84 earnings per share. The firm’s quarterly revenue 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. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IR. Robert W. Baird cut their price objective on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock 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. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $87.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Finally, Stifel Nicolaus lifted their target price on shares of Ingersoll Rand from $81.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of “Hold” and an average target price of $92.13.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $80.63, for a total value of $119,090.51. Following the sale, the chief accounting officer owned 12,153 shares in the company, valued at $979,896.39. This represents a 10.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 191,000 shares of Ingersoll Rand stock in a transaction on Friday, January 16th. The shares were sold at an average price of $88.12, for a total value of $16,830,920.00. Following the transaction, the insider owned 193,186 shares of the company’s stock, valued at $17,023,550.32. The trade was a 49.72% decrease in their position. The SEC filing for this sale provides additional information. 0.68% of the stock is currently owned by company insiders.

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.