Federated Hermes Inc. Trims Stake in Ingersoll Rand Inc. $IR

Federated Hermes Inc. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,198 shares of the industrial products company’s stock after selling 28,489 shares during the quarter. Federated Hermes Inc.’s holdings in Ingersoll Rand were worth $15,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its position in Ingersoll Rand by 150.7% in the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new stake in Ingersoll Rand during the 3rd quarter valued at $36,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Ingersoll Rand during the third quarter valued at about $36,000. Gladwyn Financial Advisors Inc. bought a new position in Ingersoll Rand during the 2nd quarter valued at approximately $42,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Ingersoll Rand in the second quarter worth $45,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on IR shares. Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Citigroup increased their target price on Ingersoll Rand from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Robert W. Baird dropped their price target on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Stifel Nicolaus raised their price target on Ingersoll Rand from $81.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, January 23rd. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.13.

Ingersoll Rand Stock Down 3.3%

NYSE IR opened at $85.94 on Friday. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $95.85. The company has a market capitalization of $33.96 billion, a P/E ratio of 63.66, a P/E/G ratio of 5.60 and a beta of 1.33. The stock has a 50 day moving average price of $82.50 and a 200-day moving average price of $80.76. 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 released its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Insider Buying and Selling at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 1,477 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the sale, the chief accounting officer owned 12,153 shares in the company, valued at approximately $979,896.39. This represents a 10.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 191,000 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $88.12, for a total value of $16,830,920.00. Following the completion of the sale, the insider owned 193,186 shares of the company’s stock, valued at approximately $17,023,550.32. This trade represents a 49.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.59% of the stock is currently owned by insiders.

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.