Miracle Mile Advisors LLC Decreases Stake in Ingersoll Rand Inc. $IR

Miracle Mile Advisors LLC reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 64.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,029 shares of the industrial products company’s stock after selling 11,104 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Ingersoll Rand were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. NewSquare Capital LLC lifted its stake in Ingersoll Rand by 150.7% during the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 205 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in shares of Ingersoll Rand during the third quarter valued at approximately $36,000. Gladwyn Financial Advisors Inc. bought a new position in Ingersoll Rand during the second quarter valued at approximately $42,000. Legacy Wealth Managment LLC ID purchased a new stake in Ingersoll Rand in the first quarter worth approximately $43,000. Finally, Legacy Investment Solutions LLC bought a new stake in Ingersoll Rand in the 2nd quarter worth approximately $45,000. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IR shares. Robert W. Baird lowered their price target on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company upped their price objective on Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Finally, Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Four 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, the company presently has an average rating of “Hold” and a consensus price target of $91.44.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $80.63, for a total transaction of $119,090.51. Following the sale, the chief accounting officer directly owned 12,153 shares of the company’s stock, valued at $979,896.39. This trade represents a 10.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Ingersoll Rand Stock Up 0.7%

IR stock opened at $79.75 on Monday. The business’s 50-day moving average price is $78.84 and its 200-day moving average price is $80.63. The stock has a market cap of $31.51 billion, a P/E ratio of 59.07, a PEG ratio of 4.82 and a beta of 1.33. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $95.85.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.Ingersoll Rand’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.