Goodnow Investment Group LLC Acquires Shares of 261,554 Ingersoll Rand Inc. $IR

Key Points

• Goodnow Investment Group acquired 261,554 Ingersoll Rand shares worth approximately $21.4 million, making the stock 2.2% of its portfolio and representing about 0.07% of the company.
• Institutional investors and hedge funds own 95.27% of Ingersoll Rand, while a company director separately purchased 11,538 shares valued at roughly $1 million.
• Ingersoll Rand beat quarterly estimates with $0.86 EPS and $2.05 billion in revenue, up 8.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $96.14, compared with a share price of $80.01.

Goodnow Investment Group LLC bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 261,554 shares of the industrial products company's stock, valued at approximately $21,445,000. Ingersoll Rand comprises approximately 2.2% of Goodnow Investment Group LLC's investment portfolio, making the stock its 16th biggest position. Goodnow Investment Group LLC owned approximately 0.07% of Ingersoll Rand at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Ingersoll Rand during the second quarter worth about $2,484,319,000. Norges Bank acquired a new position in shares of Ingersoll Rand during the 4th quarter worth approximately $407,915,000. Bank of New York Mellon Corp purchased a new stake in shares of Ingersoll Rand in the second quarter valued at approximately $328,309,000. T. Rowe Price Investment Management Inc. grew its position in shares of Ingersoll Rand by 18.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company's stock valued at $1,726,308,000 after purchasing an additional 3,423,501 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Ingersoll Rand by 4.7% in the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company's stock valued at $4,147,878,000 after purchasing an additional 2,351,781 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ingersoll Rand news, Director Aurobind Satpathy acquired 11,538 shares of the stock in a transaction dated Monday, August 3rd. The stock was acquired at an average price of $86.68 per share, with a total value of $1,000,113.84. Following the completion of the purchase, the director owned 11,538 shares in the company, valued at $1,000,113.84. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.49% of the company's stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $80.01 on Tuesday. The firm's 50 day moving average price is $81.93 and its 200-day moving average price is $82.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.62. Ingersoll Rand Inc. has a one year low of $68.07 and a one year high of $100.96. The firm has a market cap of $31.04 billion, a P/E ratio of 32.93, a P/E/G ratio of 5.06 and a beta of 1.17.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $0.80 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.39 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand's dividend payout ratio is 3.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings raised Ingersoll Rand from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Morgan Stanley set a $87.00 price target on Ingersoll Rand in a report on Monday, August 10th. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $103.00 to $109.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Wall Street Zen cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Barclays reduced their target price on shares of Ingersoll Rand from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $96.14.

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company's products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.

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