Cerity Partners LLC Cuts Position in Ingersoll Rand Inc. $IR

Cerity Partners LLC decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 19.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 145,250 shares of the industrial products company’s stock after selling 35,022 shares during the period. Cerity Partners LLC’s holdings in Ingersoll Rand were worth $12,082,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IR. Fisher Asset Management LLC boosted its holdings in Ingersoll Rand by 0.6% in the second quarter. Fisher Asset Management LLC now owns 6,913,924 shares of the industrial products company’s stock worth $575,100,000 after acquiring an additional 38,999 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Ingersoll Rand in the 2nd quarter worth about $8,375,000. Nordea Investment Management AB boosted its stake in Ingersoll Rand by 4.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,797,823 shares of the industrial products company’s stock worth $149,920,000 after purchasing an additional 74,070 shares in the last quarter. Allworth Financial LP grew its position in Ingersoll Rand by 85.3% during the 2nd quarter. Allworth Financial LP now owns 8,116 shares of the industrial products company’s stock valued at $675,000 after purchasing an additional 3,736 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Ingersoll Rand by 70.1% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,395 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 1,811 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Robert W. Baird dropped their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Zacks Research cut Ingersoll Rand from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Morgan Stanley reduced their target price on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.20.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 1,477 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were 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 directly owned 12,153 shares in the company, valued at approximately $979,896.39. The trade was a 10.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.59% of the company’s stock.

Ingersoll Rand Price Performance

NYSE IR opened at $80.98 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51. Ingersoll Rand Inc. has a 1-year low of $65.61 and a 1-year high of $102.98. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 59.98, a PEG ratio of 5.06 and a beta of 1.33. The business’s fifty day moving average price is $78.41 and its 200-day moving average price is $80.81.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data 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). Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $0.84 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 5.93%.

Ingersoll Rand Company Profile

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.