DekaBank Deutsche Girozentrale Decreases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Posted by on Jul 12th, 2023

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,277 shares of the industrial products company’s stock after selling 10,374 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ingersoll Rand were worth $9,972,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in shares of Ingersoll Rand by 63.8% during the 4th quarter. Handelsbanken Fonder AB now owns 297,747 shares of the industrial products company’s stock valued at $15,557,000 after buying an additional 116,017 shares in the last quarter. Barclays PLC raised its position in shares of Ingersoll Rand by 41.6% during the 4th quarter. Barclays PLC now owns 490,126 shares of the industrial products company’s stock valued at $25,608,000 after buying an additional 143,977 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $370,000. ING Groep NV purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at about $238,000. Finally, Desjardins Global Asset Management Inc. raised its position in Ingersoll Rand by 27.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,263 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 272 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IR has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on shares of Ingersoll Rand from $60.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, April 17th. Citigroup increased their price objective on shares of Ingersoll Rand from $67.00 to $75.00 in a research report on Monday. Barclays increased their price objective on shares of Ingersoll Rand from $65.00 to $70.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ingersoll Rand from $55.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Finally, Robert W. Baird raised their target price on shares of Ingersoll Rand from $62.00 to $66.00 in a research report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Insider Activity

In other news, insider Kathleen M. Keene sold 4,003 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $62.50, for a total transaction of $250,187.50. Following the transaction, the insider now directly owns 1,879 shares in the company, valued at $117,437.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,003 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $62.50, for a total value of $250,187.50. Following the completion of the sale, the insider now directly owns 1,879 shares in the company, valued at $117,437.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 27,169 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $65.00, for a total transaction of $1,765,985.00. Following the completion of the sale, the insider now owns 73,877 shares of the company’s stock, valued at $4,802,005. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,659 shares of company stock worth $3,685,458. Corporate insiders own 0.83% of the company’s stock.

Ingersoll Rand Price Performance

NYSE IR opened at $66.25 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.50 and a current ratio of 2.16. The firm’s 50 day moving average price is $61.43 and its 200-day moving average price is $57.90. Ingersoll Rand Inc. has a 52-week low of $39.28 and a 52-week high of $66.74. The company has a market cap of $26.80 billion, a PE ratio of 40.90 and a beta of 1.43.

Ingersoll Rand (NYSE:IR – Get Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Ingersoll Rand had a net margin of 10.66% and a return on equity of 10.69%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.48 billion. Sell-side analysts forecast that Ingersoll Rand Inc. will post 2.57 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Wednesday, May 24th were paid a dividend of $0.02 per share. The ex-dividend date was Tuesday, May 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Ingersoll Rand’s dividend payout ratio is presently 4.94%.

Ingersoll Rand Company Profile

(Free Report)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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