Edgestream Partners L.P. Makes New $775,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Edgestream Partners L.P. acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 8,535 shares of the industrial products company’s stock, valued at approximately $775,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in 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 buying an additional 176,734 shares during the period. Capital International Investors increased its holdings in Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ingersoll Rand by 28.4% during 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 purchasing an additional 3,535,543 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Ingersoll Rand by 15.3% in the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after purchasing an additional 1,504,414 shares in the last quarter. Finally, Putnam Investments LLC lifted its holdings in shares of Ingersoll Rand by 8.0% in the fourth 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 in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock valued at $7,108,005 in the last three months. 0.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IR shares. Wells Fargo & Company dropped their target price on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Cfra reiterated a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a report on Friday, August 2nd. Barclays reduced their target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective 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. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Ingersoll Rand Stock Performance

IR opened at $96.77 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.18 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 business has a 50 day moving average of $92.46 and a 200-day moving average of $92.26. The stock has a market cap of $39.04 billion, a price-to-earnings ratio of 48.14, a PEG ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) 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 research analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current 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 paid a $0.02 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

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.