New Century Financial Group LLC Purchases Shares of 2,206 Ingersoll Rand Inc. (NYSE:IR)

New Century Financial Group LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,206 shares of the industrial products company’s stock, valued at approximately $200,000.

Several other hedge funds have also recently modified their holdings of IR. Bank of Nova Scotia increased its stake in Ingersoll Rand by 33.4% during the 4th quarter. Bank of Nova Scotia now owns 50,087 shares of the industrial products company’s stock valued at $3,874,000 after purchasing an additional 12,550 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Ingersoll Rand by 3.2% in the 4th quarter. Eagle Asset Management Inc. now owns 28,044 shares of the industrial products company’s stock valued at $2,169,000 after acquiring an additional 864 shares during the period. Rafferty Asset Management LLC raised its stake in Ingersoll Rand by 5.6% in the 4th quarter. Rafferty Asset Management LLC now owns 33,953 shares of the industrial products company’s stock worth $2,626,000 after acquiring an additional 1,800 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Ingersoll Rand by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484,303 shares of the industrial products company’s stock worth $37,456,000 after acquiring an additional 6,132 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Ingersoll Rand by 17.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,779,883 shares of the industrial products company’s stock valued at $137,656,000 after purchasing an additional 265,041 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 2.0 %

Shares of IR opened at $99.94 on Thursday. The firm has a market cap of $40.32 billion, a P/E ratio of 49.72, a PEG ratio of 2.75 and a beta of 1.42. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30. The stock’s 50 day moving average is $92.33 and its two-hundred day moving average is $92.66. 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 (NYSE:IR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Analysts predict that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

Insider Activity

In related news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were 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 in the company, valued at $3,543,473.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand 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 transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now 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 77,510 shares of company stock worth $7,108,005 over the last three months. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Evercore ISI decreased their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. 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 objective on the stock. Barclays boosted their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company cut their price target 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. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.33.

Ingersoll Rand Profile

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.