Meyer Handelman Co. Decreases Holdings in Ingersoll Rand Inc. (NYSE:IR)

Meyer Handelman Co. trimmed its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,680 shares of the industrial products company’s stock after selling 5,775 shares during the quarter. Meyer Handelman Co. owned approximately 0.07% of Ingersoll Rand worth $26,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in Ingersoll Rand during the second quarter valued at $25,000. Kapitalo Investimentos Ltda purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at $28,000. Headlands Technologies LLC bought a new position in shares of Ingersoll Rand during the 1st quarter worth $28,000. Riverview Trust Co purchased a new stake in Ingersoll Rand in the 1st quarter worth about $29,000. Finally, Scarborough Advisors LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In other Ingersoll Rand 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 transaction of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on Thursday, August 8th. The shares were 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 owns 39,486 shares of the company’s stock, valued at $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IR. Cfra lifted their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Jefferies Financial Group began coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target for the company. Barclays lifted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $100.76 on Friday. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $101.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The firm has a market capitalization of $40.65 billion, a price-to-earnings ratio of 50.13, a PEG ratio of 2.72 and a beta of 1.42. The company’s fifty day moving average price is $92.84 and its 200-day moving average price is $92.97.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.22 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given 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 was Thursday, August 15th. Ingersoll Rand’s payout ratio is currently 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.