Allspring Global Investments Holdings LLC Sells 165,515 Shares of Ingersoll Rand Inc. $IR

Allspring Global Investments Holdings LLC reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,387,840 shares of the industrial products company’s stock after selling 165,515 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.35% of Ingersoll Rand worth $111,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators boosted its stake in Ingersoll Rand by 46.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 112 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in Ingersoll Rand during the 4th quarter valued at $29,000. Reflection Asset Management bought a new position in Ingersoll Rand during the fourth quarter worth $31,000. Torren Management LLC acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at $32,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Ingersoll Rand by 166.9% in the fourth quarter. Salomon & Ludwin LLC now owns 427 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 2.9%

NYSE IR opened at $82.29 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $75.51 and a 200 day simple moving average of $82.54. Ingersoll Rand Inc. has a 12 month low of $68.07 and a 12 month high of $100.96. The firm has a market capitalization of $32.20 billion, a P/E ratio of 55.60, a PEG ratio of 5.36 and a beta of 1.17.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. On average, analysts predict that Ingersoll Rand Inc. will post 3.37 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, May 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 5.41%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IR shares. Stifel Nicolaus lowered their price target on shares of Ingersoll Rand from $101.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Morgan Stanley decreased their target price on Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen cut Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings lowered Ingersoll Rand from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Finally, Barclays reduced their target price on shares of Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.71.

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.