Evergreen Capital Management LLC Increases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Evergreen Capital Management LLC raised its stake in Ingersoll Rand Inc. (NYSE:IR) by 6.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,563 shares of the industrial products company’s stock after acquiring an additional 230 shares during the quarter. Evergreen Capital Management LLC’s holdings in Ingersoll Rand were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of IR. Capital International Investors raised its holdings in shares of 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 valued at $2,484,486,000 after buying an additional 13,919,775 shares during the period. Capital World Investors purchased a new stake in shares of Ingersoll Rand during the first quarter valued at approximately $440,401,000. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 28.4% during the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares during the period. Capital Research Global Investors lifted its position in shares of Ingersoll Rand by 46.6% during 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 purchasing an additional 3,119,793 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake 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 during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand 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 sale, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective on the stock. Stifel Nicolaus upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Evercore ISI decreased their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Cfra reiterated a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. Finally, Robert W. Baird increased their price target 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. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $96.41 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. The business has a 50 day moving average of $92.33 and a two-hundred day moving average of $92.39. The company has a market cap of $38.89 billion, a P/E ratio of 47.97, a PEG ratio of 2.75 and a beta of 1.42. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $101.30.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data 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 firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. 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%.

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.