Mather Group LLC Reduces Stake in Ingersoll Rand Inc.

Mather Group LLC has significantly reduced its investment in Ingersoll Rand Inc. (NYSE:IR), selling 3,594 shares, which represents a 60.6% decrease in its stake during the third quarter. Following this sale, the firm now holds 2,341 shares of the industrial powerhouse, valued at approximately $230,000.

Other hedge funds and institutional investors have also made adjustments to their positions in Ingersoll Rand recently. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake by 24.4% in the first quarter, owning 494,450 shares valued at about $46.95 million after adding 96,982 shares. Azzad Asset Management Inc. ADV took a new position in the firm valued at around $1.22 million during the same quarter. In the second quarter, Swedbank AB increased its ownership by 34%, reaching 780,712 shares worth approximately $70.92 million after acquiring another 198,200 shares. Inspire Investing LLC also entered into a new position valued at $889,000 in the first quarter. Empowered Funds LLC made significant moves as well, enhancing its holdings by 1,077.0% to own 49,483 shares valued at roughly $4.70 million after adding 45,279 shares. Overall, hedge funds and institutional investors collectively own 95.27% of Ingersoll Rand's stock.

Analyst Perspectives on Ingersoll Rand

Ingersoll Rand has attracted various analyst opinions. Cfra raised the price target for the stock from $85 to $95, maintaining a "hold" rating as of October 4th. Wolfe Research has also upgraded Ingersoll Rand to a "hold" rating recently. Conversely, Evercore ISI lowered their price target from $93 to $88, giving an "in-line" rating. Barclays raised its target price to $105 from $101, reflecting an "overweight" rating. Stifel Nicolaus increased its price target from $100 to $110, assigning a "buy" rating. Currently, six analysts rate the stock as a hold, while eight analysts recommend buying. According to MarketBeat's data, Ingersoll Rand is rated as a "Moderate Buy" with an average target price of $102.

Insider Transactions at Ingersoll Rand

Insider transactions at Ingersoll Rand show notable activity. Andrew R. Schiesl, an insider, sold 15,381 shares on August 8th at an average price of $89.74, totaling about $1.38 million. After this sale, he continues to own 39,486 shares valued at approximately $3.54 million. In another transaction, Kathleen M. Keene sold 4,629 shares on August 27th at an average price of $89.99 for roughly $416,563, retaining 3,829 shares with a value of about $344,572. Over the last 90 days, insiders have sold a total of 77,510 shares worth around $7.11 million. Corporate insiders hold only 0.68% of the company's stock.

Ingersoll Rand Stock Performance

As of Friday, Ingersoll Rand's stock opened at $100.76. The company's 50-day moving average is $92.57, while the 200-day moving average stands at $92.92. The stock has experienced a 12-month low of $59.20 and a high of $101.41. The firm showcases a current ratio of 2.18 and a quick ratio of 1.52, with a debt-to-equity ratio of 0.47. The market capitalization is approximately $40.65 billion, featuring a price-to-earnings ratio of 49.88, a PEG ratio of 2.72, and a beta of 1.42.

Ingersoll Rand recently announced its quarterly earnings on July 31st, posting earnings per share (EPS) of $0.80, surpassing the analysts' expectation of $0.74. The revenue for the quarter was reported at $1.81 billion, exceeding consensus estimates of $1.78 billion. The company also recorded a return on equity of 13% and a net margin of 11.73%. Analysts are predicting that Ingersoll Rand will report an EPS of 3.22 for the current fiscal year.

Dividend Information for Ingersoll Rand

Ingersoll Rand has also declared a quarterly dividend, which was paid on September 5th. Shareholders of record on August 15th received a dividend of $0.02 per share. This payout reflects an annualized dividend of $0.08, translating to a dividend yield of 0.08%. The ex-dividend date was August 15th, with the current dividend payout ratio (DPR) registered at 3.96%.

Overview of Ingersoll Rand

Ingersoll Rand Inc. provides essential services and solutions worldwide in air, gas, liquid, and solid flow creation technologies. The company operates through two segments: Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment focuses on designing, manufacturing, and marketing air and gas compression equipment, vacuum and blower products, fluid transfer equipment, and power tools among others, operating under brand names like Ingersoll Rand, Gardner Denver, and CompAir.

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