Meyer Handelman Co. Sells 1,691 Shares of Ingersoll Rand Inc. (NYSE:IR)

Meyer Handelman Co. cut its holdings in Ingersoll Rand Inc. (NYSE:IRFree Report) by 0.6% in the first quarter, HoldingsChannel reports. The firm owned 276,957 shares of the industrial products company’s stock after selling 1,691 shares during the period. Meyer Handelman Co.’s holdings in Ingersoll Rand were worth $26,297,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd bought a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand during the 4th quarter worth $28,000. Scarborough Advisors LLC bought a new stake in Ingersoll Rand during the fourth quarter valued at about $32,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $42,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Ingersoll Rand in the fourth quarter worth about $62,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the sale, the insider now directly owns 30,846 shares in the company, valued at $2,843,075.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

NYSE IR traded down $0.29 during trading on Friday, reaching $92.89. 3,639,346 shares of the company traded hands, compared to its average volume of 2,710,599. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $96.67. The company has a market cap of $37.47 billion, a price-to-earnings ratio of 46.21, a P/E/G ratio of 3.01 and a beta of 1.43. The stock’s 50 day moving average price is $91.89 and its two-hundred day moving average price is $86.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32.

Ingersoll Rand (NYSE:IRGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.18 EPS for the current year.

Ingersoll Rand declared that its board has authorized a stock repurchase program on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IR. StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Barclays lowered their price objective on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research note on Friday. They set a “buy” rating and a $110.00 target price for the company. BNP Paribas initiated coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.00.

View Our Latest Stock Report on Ingersoll Rand

Ingersoll Rand Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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