State of Alaska Department of Revenue Sells 6,382 Shares of Ingersoll Rand Inc. $IR

State of Alaska Department of Revenue lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 14.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,927 shares of the industrial products company’s stock after selling 6,382 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ingersoll Rand were worth $3,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Ingersoll Rand during the 2nd quarter worth approximately $397,501,000. Allspring Global Investments Holdings LLC increased its stake in shares of Ingersoll Rand by 8,153.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,614,212 shares of the industrial products company’s stock worth $137,692,000 after purchasing an additional 1,594,653 shares in the last quarter. Swedbank AB raised its position in shares of Ingersoll Rand by 141.1% during the 3rd quarter. Swedbank AB now owns 2,249,353 shares of the industrial products company’s stock valued at $185,842,000 after purchasing an additional 1,316,375 shares during the period. Liontrust Investment Partners LLP purchased a new position in shares of Ingersoll Rand during the 2nd quarter valued at $81,628,000. Finally, Vanguard Group Inc. lifted its stake in shares of Ingersoll Rand by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 47,128,533 shares of the industrial products company’s stock valued at $3,920,151,000 after buying an additional 859,062 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $86.14 on Tuesday. The company’s 50-day moving average price is $79.50 and its 200-day moving average price is $80.68. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The company has a market cap of $34.03 billion, a PE ratio of 63.81, a price-to-earnings-growth ratio of 5.17 and a beta of 1.33. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $95.85.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The company’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, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 13th were given a $0.02 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.93%.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the transaction, the chief accounting officer owned 12,153 shares in the company, valued at $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 available at this link. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on IR. Citigroup increased their price target on Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of Ingersoll Rand from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Robert W. Baird reduced their price objective on shares of 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 raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $91.56.

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.