Ingersoll Rand Inc. $IR Stock Holdings Reduced by Candriam S.C.A.

Candriam S.C.A. reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 25.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 127,983 shares of the industrial products company’s stock after selling 44,826 shares during the quarter. Candriam S.C.A.’s holdings in Ingersoll Rand were worth $9,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of IR. BlackRock Inc. acquired a new stake in Ingersoll Rand during the 2nd quarter worth approximately $2,484,319,000. Jupiter Topco LLC purchased a new position in Ingersoll Rand in the 2nd quarter valued at approximately $547,628,000. Janus Henderson Group PLC grew its stake in shares of Ingersoll Rand by 2.3% in the first quarter. Janus Henderson Group PLC now owns 6,576,720 shares of the industrial products company’s stock worth $526,926,000 after acquiring an additional 146,450 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Ingersoll Rand in the second quarter worth $328,309,000. Finally, Amundi increased its position in shares of Ingersoll Rand by 19.3% during the second quarter. Amundi now owns 3,282,920 shares of the industrial products company’s stock worth $269,175,000 after acquiring an additional 531,095 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Up 4.8%

Shares of NYSE IR opened at $86.97 on Tuesday. The business has a 50-day moving average of $76.85 and a two-hundred day moving average of $81.15. The company has a market capitalization of $33.40 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 3.56 and a beta of 1.15. Ingersoll Rand Inc. has a 1 year low of $68.07 and a 1 year high of $100.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.69 and a quick ratio of 1.24.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. Ingersoll Rand had a return on equity of 13.47% and a net margin of 17.20%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts forecast that Ingersoll Rand Inc. will post 3.47 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, November 12th. Ingersoll Rand’s dividend payout ratio is 2.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IR. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price objective (up from $93.00) on shares of Ingersoll Rand in a research note on Monday, November 2nd. Wall Street Zen cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Citigroup restated a “buy” rating on shares of Ingersoll Rand in a report on Monday, October 12th. Morgan Stanley set a $87.00 price target on Ingersoll Rand in a report on Monday, August 10th. Finally, Robert W. Baird reduced their target price on shares of Ingersoll Rand from $109.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday, November 2nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Ingersoll Rand Profile

Ingersoll Rand Inc (NYSE: IR) is a global industrial company that designs and manufactures equipment and technologies used to move, manage and control air, gases, fluids and other materials. Its products include air and gas compressors, vacuum and blower systems, pumps, and related components and services.

The company also supplies precision and science technologies for applications such as fluid handling, material processing and life sciences. Its equipment and services support customers across a range of industries, including manufacturing, energy, healthcare and food and beverage.

The modern Ingersoll Rand was formed in 2020 through the combination of Gardner Denver and the industrial business of the former Ingersoll-Rand plc; the Ingersoll Rand name has roots dating to the 19th century.