Kimelman & Baird LLC Acquires New Shares in Ingersoll Rand Inc. (NYSE:IR)

Kimelman & Baird LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 626 shares of the industrial products company’s stock, valued at approximately $57,000.

Other hedge funds also recently made changes to their positions in the company. 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 buying an additional 13,919,775 shares during the period. Capital World Investors bought a new stake in Ingersoll Rand during the 1st quarter worth approximately $440,401,000. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 3,535,543 shares in the last quarter. Capital Research Global Investors boosted its holdings in Ingersoll Rand by 46.6% in the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock valued at $758,847,000 after purchasing an additional 3,119,793 shares during the period. Finally, Putnam Investments LLC grew its position in shares of Ingersoll Rand by 8.0% during 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 in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the company’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 transaction of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley started coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Stifel Nicolaus boosted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Barclays lowered their target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Cfra reissued a “hold” rating and issued a $85.00 price target on shares of Ingersoll Rand in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $100.00.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $98.16 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $101.30. The company has a fifty day moving average of $92.29 and a 200-day moving average of $92.56. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last posted 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. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Equities research analysts expect that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a $0.02 dividend. The ex-dividend date of this dividend 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%.

Ingersoll Rand Company 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.