Greenline Partners LLC Makes New $398,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Greenline Partners LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,447 shares of the industrial products company’s stock, valued at approximately $398,000.

Several other large investors have also recently made changes to their positions in the business. Capital International Investors increased its stake 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 buying an additional 13,919,775 shares during the period. Capital World Investors purchased a new position in shares of Ingersoll Rand in the first quarter worth $440,401,000. JPMorgan Chase & Co. increased its stake 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 buying an additional 3,535,543 shares during the period. Capital Research Global Investors increased its stake in shares of Ingersoll Rand by 46.6% in the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after buying an additional 3,119,793 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Ingersoll Rand by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 6,165,135 shares of the industrial products company’s stock valued at $585,380,000 after acquiring an additional 886,697 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock worth $7,108,005 in the last quarter. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $96.77 on Friday. The stock has a market cap of $39.04 billion, a PE ratio of 48.14, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. The company’s fifty day moving average price is $92.46 and its 200-day moving average price is $92.26. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30. 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 announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $1.81 billion for 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%. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company 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. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IR shares. Robert W. Baird lifted their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report 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 currently has a consensus rating of “Moderate Buy” and an average price target 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.