Nicholas Investment Partners LP Takes $1.05 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Nicholas Investment Partners LP purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 11,520 shares of the industrial products company’s stock, valued at approximately $1,046,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Ingersoll Rand by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after buying an additional 176,734 shares during the period. Capital International Investors lifted its position in shares of Ingersoll Rand by 113.7% in the first 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. lifted its position in shares of Ingersoll Rand by 28.4% in the first 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 position 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 worth $1,074,477,000 after purchasing an additional 1,504,414 shares in the last quarter. Finally, Putnam Investments LLC lifted its position 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 worth $730,383,000 after purchasing an additional 696,610 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR opened at $89.86 on Friday. The firm has a market capitalization of $36.25 billion, a PE ratio of 44.71, a PEG ratio of 2.45 and a beta of 1.42. The company’s 50-day moving average is $92.43 and its 200-day moving average is $92.12. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand (NYSE:IR) last issued 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. The company had revenue of $1.81 billion for 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 analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s payout ratio is presently 3.98%.

Insider Activity

In related news, 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 value of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated 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 directly owns 3,829 shares in the company, valued at $344,571.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 77,510 shares of company stock valued at $7,108,005 over the last ninety days. 0.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Evercore ISI cut their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays cut their price objective on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.