Sumitomo Life Insurance Co. Sells 1,355 Shares of Ingersoll Rand Inc. $IR

Sumitomo Life Insurance Co. reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,783 shares of the industrial products company’s stock after selling 1,355 shares during the period. Sumitomo Life Insurance Co.’s holdings in Ingersoll Rand were worth $1,812,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in Ingersoll Rand by 1,460.0% during the 1st quarter. Teacher Retirement System of Texas now owns 58,923 shares of the industrial products company’s stock valued at $4,716,000 after acquiring an additional 55,146 shares in the last quarter. Mutual Advisors LLC lifted its stake in Ingersoll Rand by 61.3% during the 1st quarter. Mutual Advisors LLC now owns 6,447 shares of the industrial products company’s stock valued at $483,000 after acquiring an additional 2,451 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Ingersoll Rand by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 83,601 shares of the industrial products company’s stock valued at $6,691,000 after acquiring an additional 7,242 shares in the last quarter. HM Payson & Co. lifted its stake in Ingersoll Rand by 7.3% during the 1st quarter. HM Payson & Co. now owns 9,504 shares of the industrial products company’s stock valued at $761,000 after acquiring an additional 650 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in Ingersoll Rand by 14.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock valued at $245,000 after acquiring an additional 385 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IR has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Melius cut Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research note on Monday, July 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Ingersoll Rand in a research note on Wednesday, October 8th. Stifel Nicolaus raised their price objective on Ingersoll Rand from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Monday, October 20th. Finally, Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.09.

Ingersoll Rand Trading Down 3.0%

Shares of Ingersoll Rand stock opened at $76.34 on Monday. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The stock’s 50-day simple moving average is $79.84 and its 200 day simple moving average is $80.86. The stock has a market capitalization of $30.34 billion, a P/E ratio of 56.55, a P/E/G ratio of 4.55 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (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 firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. 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. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, November 13th. Ingersoll Rand’s payout ratio is currently 5.93%.

Ingersoll Rand Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. 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 aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.