MBB Public Markets I LLC Makes New $2.65 Million Investment in Ingersoll Rand Inc. (NYSE:IR)

MBB Public Markets I LLC purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 29,120 shares of the industrial products company’s stock, valued at approximately $2,645,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IR. Vanguard Group Inc. increased its position in shares of Ingersoll Rand by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock worth $3,510,018,000 after purchasing an additional 176,734 shares during the last quarter. Capital International Investors increased its position in shares of Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after acquiring an additional 13,919,775 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after acquiring an additional 3,535,543 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after purchasing an additional 1,504,414 shares during the period. Finally, Putnam Investments LLC increased its holdings in Ingersoll Rand by 8.0% in the 4th quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock valued at $730,383,000 after purchasing an additional 696,610 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 in the last ninety days. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Trading Up 1.7 %

Shares of Ingersoll Rand stock opened at $98.08 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30. The stock has a market cap of $39.57 billion, a price-to-earnings ratio of 48.80, a PEG ratio of 2.75 and a beta of 1.42. The company has a fifty day simple moving average of $92.33 and a 200-day simple moving average of $92.49.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IR shares. Jefferies Financial Group assumed coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price target for the company. Barclays dropped their target price on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.