Mather Group LLC Reduces Stake in Ingersoll Rand Inc.

Mather Group LLC has significantly reduced its investment in Ingersoll Rand Inc. (NYSE:IR) by 60.6% during the third quarter, as reported in their latest 13F filing with the SEC. Following the sale of 3,594 shares, Mather Group LLC now holds 2,341 shares of the industrial products company, valued at approximately $230,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their holdings in Ingersoll Rand. For example, Mitsubishi UFJ Asset Management Co. Ltd. increased its ownership by 24.4% in the first quarter, acquiring an additional 96,982 shares to reach a total of 494,450 shares, valued at $46.9 million. Similarly, Azzad Asset Management Inc. purchased a new position worth around $1.2 million during the same period. Swedbank AB raised its stake by 34.0% in the second quarter, adding 198,200 shares to own a total of 780,712 shares valued at $70.9 million. Inspire Investing LLC and Empowered Funds LLC also entered new positions, with Empowered Funds lifting its holdings by a staggering 1,077.0% in the first quarter, ultimately owning 49,483 shares worth $4.7 million. Collectively, hedge funds and institutional investors now own 95.27% of Ingersoll Rand’s stock.

Analyst Insights on Ingersoll Rand

The stock of Ingersoll Rand has received attention from various analysts. Cfra recently raised their price target from $85.00 to $95.00 while maintaining a “hold” rating. On the other hand, Wolfe Research upgraded their rating to “hold”. Evercore ISI decreased their target price from $93.00 to $88.00, giving an “in-line” rating, whereas Barclays increased their target from $101.00 to $105.00 with an “overweight” rating. Stifel Nicolaus raised their target price from $100.00 to $110.00, assigning a “buy” rating. Currently, the stock holds an average rating of “Moderate Buy” with an average price target of $102.00 based on data from MarketBeat.

Check Out Our Latest Analysis on Ingersoll Rand

Recent Insider Transactions

Ingersoll Rand has seen some insider activity as well. Insider Andrew R. Schiesl sold 15,381 shares on August 8th, with the shares sold at an average price of $89.74, amounting to a transaction value of about $1.38 million. After this sale, he holds 39,486 shares in the company valued at approximately $3.54 million. Furthermore, insider Kathleen M. Keene sold 4,629 shares on August 27th for an average price of $89.99, totaling around $416,563.71. As of the last 90 days, insiders have sold a combined total of 77,510 shares of company stock worth about $7.1 million. Corporate insiders currently hold about 0.68% of Ingersoll Rand’s shares.

Performance Overview of Ingersoll Rand

As of Friday, Ingersoll Rand’s stock was trading at $100.76. The company’s 50-day moving average stands at $92.57, while the 200-day moving average is at $92.92. The stock has experienced a range over the past year, with a low of $59.20 and a high of $101.41. The company's financial health is supported by a current ratio of 2.18 and a quick ratio of 1.52, along with a debt-to-equity ratio of 0.47. Ingersoll Rand has a market capitalization of approximately $40.65 billion, a price-to-earnings ratio of 49.88, and a PEG ratio of 2.72, with a beta of 1.42.

Ingersoll Rand reported its quarterly earnings on July 31st, posting earnings per share (EPS) of $0.80, which beat analysts’ expectations of $0.74 by $0.06. The company recorded revenue of $1.81 billion, surpassing estimates of $1.78 billion. Additionally, Ingersoll Rand achieved a return on equity of 13.00% and a net margin of 11.73%. Analysts expect the company to post an EPS of 3.22 for the current year.

Dividend Information

Ingersoll Rand has recently declared a quarterly dividend of $0.02 per share, which was distributed on September 5th to shareholders on record as of August 15th. This amounts to an annual dividend of $0.08, yielding a dividend yield of 0.08%. The company’s current dividend payout ratio (DPR) is 3.96%.

Company Profile of Ingersoll Rand

Ingersoll Rand Inc. specializes in providing various essential technologies and services related to air, gas, liquid, and solid flow. The company operates through two primary segments: Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment includes the design, manufacture, marketing, and servicing of air and gas compression, vacuum and blower products, fluid transfer equipment, and other related services and products under several well-known brands.

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