Cresset Asset Management LLC Sells 926 Shares of Ingersoll Rand Inc. $IR

Cresset Asset Management LLC lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 21.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,312 shares of the industrial products company’s stock after selling 926 shares during the quarter. Cresset Asset Management LLC’s holdings in Ingersoll Rand were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compass Wealth Management LLC increased its position in shares of Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 137 shares during the period. Global Wealth Strategies & Associates grew its stake in Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 286 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 313 shares during the period. Farmers & Merchants Investments Inc. raised its position in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 172 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 285 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $81.17 on Wednesday. The company has a market capitalization of $32.26 billion, a PE ratio of 63.41, a P/E/G ratio of 4.50 and a beta of 1.41. The company has a 50-day simple moving average of $83.01 and a two-hundred day simple moving average of $81.18. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand announced that its board has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio is presently 6.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IR shares. Stifel Nicolaus set a $78.00 price target on Ingersoll Rand and gave the stock a “hold” rating in a research report on Monday, August 4th. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Robert W. Baird raised their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Melius cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a research report on Monday, July 14th. Finally, Barclays dropped their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Hold” and a consensus price target of $97.75.

About Ingersoll Rand

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.