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

Allspring Global Investments Holdings LLC lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.7% in the 1st quarter, HoldingsChannel reports. 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’s holdings in Ingersoll Rand were worth $111,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Ingersoll Rand in the 4th quarter worth approximately $407,915,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Ingersoll Rand by 18.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock worth $1,726,308,000 after acquiring an additional 3,423,501 shares during the last quarter. Capital International Investors lifted its holdings in shares of Ingersoll Rand by 4.7% in the 4th quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company’s stock worth $4,147,878,000 after acquiring an additional 2,351,781 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Ingersoll Rand in the 4th quarter valued at $149,297,000. Finally, Swedbank AB lifted its stake in Ingersoll Rand by 72.4% in the fourth quarter. Swedbank AB now owns 3,878,349 shares of the industrial products company’s stock worth $307,243,000 after purchasing an additional 1,628,996 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $82.29 on Friday. The business has a fifty day moving average price of $75.51 and a 200-day moving average price of $82.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.23 and a quick ratio of 1.59. The company has a market capitalization of $32.20 billion, a PE ratio of 55.60, a PEG ratio of 5.36 and a beta of 1.17. Ingersoll Rand Inc. has a 1-year low of $68.07 and a 1-year high of $100.96.

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

Ingersoll Rand Dividend Announcement

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

Wall Street Analyst Weigh In

IR has been the topic of several analyst reports. Morgan Stanley decreased their price objective on Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Weiss Ratings lowered Ingersoll Rand from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 8th. Barclays lowered their price objective on Ingersoll Rand from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Wells Fargo & Company dropped their price objective on Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $101.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.71.

Ingersoll Rand Company 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.