Bank of Montreal Can Lowers Position in Ingersoll Rand Inc. $IR

Bank of Montreal Can lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 23.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,896 shares of the industrial products company’s stock after selling 94,702 shares during the period. Bank of Montreal Can’s holdings in Ingersoll Rand were worth $26,276,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of Ingersoll Rand by 136.4% in the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock worth $39,000 after buying an additional 285 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Ingersoll Rand during the first quarter worth about $40,000. Gladwyn Financial Advisors Inc. purchased a new position in shares of Ingersoll Rand in the 2nd quarter worth about $42,000. Legacy Wealth Managment LLC ID acquired a new position in shares of Ingersoll Rand in the 1st quarter valued at about $43,000. Finally, SouthState Corp grew its holdings in shares of Ingersoll Rand by 279.9% during the 1st quarter. SouthState Corp now owns 547 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 403 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $77.57 on Friday. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $106.03. 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 stock has a market cap of $30.65 billion, a P/E ratio of 57.46, a price-to-earnings-growth ratio of 5.05 and a beta of 1.43. The stock has a 50 day moving average of $79.59 and a 200-day moving average of $80.89.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. 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 EPS for the current fiscal 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 issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, November 13th. Ingersoll Rand’s payout ratio is currently 5.93%.

Analysts Set New Price Targets

Several research analysts recently commented on IR shares. Melius lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Monday, July 14th. Citigroup reduced their price objective on Ingersoll Rand from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Monday. Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Ingersoll Rand in a report on Wednesday, October 8th. Finally, Robert W. Baird decreased their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.64.

Ingersoll Rand Company 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.