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

Miracle Mile Advisors LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 64.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,029 shares of the industrial products company’s stock after selling 11,104 shares during the period. 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).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IR. Ascent Group LLC bought a new stake in Ingersoll Rand in the 3rd quarter valued at $1,094,000. Carderock Capital Management Inc. grew its position in shares of Ingersoll Rand by 10.9% during the third quarter. Carderock Capital Management Inc. now owns 62,874 shares of the industrial products company’s stock valued at $5,195,000 after purchasing an additional 6,192 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Ingersoll Rand in the third quarter worth about $213,000. Apollon Wealth Management LLC increased its holdings in shares of Ingersoll Rand by 2.4% in the third quarter. Apollon Wealth Management LLC now owns 10,666 shares of the industrial products company’s stock worth $881,000 after purchasing an additional 253 shares during the last quarter. Finally, Asio Capital LLC lifted its position in shares of Ingersoll Rand by 15.5% in the third quarter. Asio Capital LLC now owns 55,005 shares of the industrial products company’s stock worth $4,545,000 after buying an additional 7,362 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 0.7%

IR stock opened at $79.75 on Monday. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $95.85. The stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 59.07, a price-to-earnings-growth 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. The firm’s fifty day simple moving average is $78.84 and its two-hundred day simple moving average is $80.63.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). The firm had revenue of $1.96 billion during 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.02 per share. 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 is currently 5.93%.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 1,477 shares of the firm’s stock in a transaction that occurred 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 directly owned 12,153 shares of the company’s stock, valued at approximately $979,896.39. This trade represents a 10.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of several research analyst reports. Robert W. Baird cut their price target on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Stifel Nicolaus increased their price objective on shares of Ingersoll Rand from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Citigroup upped their target price on shares of Ingersoll Rand from $91.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $91.44.

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.