Dupont Capital Management Corp Has $90,000 Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Posted by Defense World Staff on Apr 15th, 2023

Ingersoll Rand logo Dupont Capital Management Corp trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,723 shares of the industrial products company’s stock after selling 482 shares during the period. Dupont Capital Management Corp’s holdings in Ingersoll Rand were worth $90,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IR. Cullen Frost Bankers Inc. raised its holdings in shares of Ingersoll Rand by 81.3% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 638 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 286 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Ingersoll Rand by 87.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 705 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 328 shares during the period. Guardian Wealth Advisors LLC bought a new stake in shares of Ingersoll Rand in the 3rd quarter valued at about $30,000. CI Investments Inc. raised its holdings in shares of Ingersoll Rand by 103.1% in the 3rd quarter. CI Investments Inc. now owns 971 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 493 shares during the period. Finally, Clear Street Markets LLC raised its holdings in shares of Ingersoll Rand by 56.9% in the 3rd quarter. Clear Street Markets LLC now owns 1,334 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 484 shares during the period. 99.73% of the stock is owned by institutional investors.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 25,000 shares of Ingersoll Rand stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $57.50, for a total transaction of $1,437,500.00. Following the completion of the transaction, the insider now owns 189,345 shares of the company’s stock, valued at $10,887,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by company insiders.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $55.70 on Friday. Ingersoll Rand Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $60.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.37 and a quick ratio of 1.76. The firm has a market capitalization of $22.56 billion, a P/E ratio of 37.64 and a beta of 1.42. The company’s 50 day moving average price is $56.57 and its two-hundred day moving average price is $53.58.

Ingersoll Rand (NYSE:IR – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.54 billion. Ingersoll Rand had a net margin of 10.22% and a return on equity of 9.99%. Ingersoll Rand’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Ingersoll Rand Inc. will post 2.38 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Wednesday, March 1st were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 5.41%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IR shares. Robert W. Baird increased their price target on shares of Ingersoll Rand from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Morgan Stanley increased their price target on shares of Ingersoll Rand from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. Citigroup increased their price target on shares of Ingersoll Rand from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 10th. StockNews.com assumed coverage on shares of Ingersoll Rand in a report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Barclays raised their target price on shares of Ingersoll Rand from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.80.

Ingersoll Rand Profile

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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.