Meyer Handelman Co. Sells 5,775 Shares of Ingersoll Rand Inc. (NYSE:IR)

Meyer Handelman Co. lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,680 shares of the industrial products company’s stock after selling 5,775 shares during the period. Meyer Handelman Co.’s holdings in Ingersoll Rand were worth $26,570,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ingersoll Rand by 24.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after buying an additional 96,982 shares during the period. Azzad Asset Management Inc. ADV purchased a new position in shares of Ingersoll Rand during the 1st quarter worth approximately $1,221,000. Swedbank AB raised its position in shares of Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after acquiring an additional 198,200 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Ingersoll Rand in the 1st quarter valued at approximately $889,000. Finally, Empowered Funds LLC boosted its position in shares of Ingersoll Rand by 1,077.0% during the first quarter. Empowered Funds LLC now owns 49,483 shares of the industrial products company’s stock valued at $4,698,000 after purchasing an additional 45,279 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on 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 sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock valued at $7,108,005 in the last ninety days. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Trading Up 2.2 %

Shares of NYSE:IR opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $101.41. The company has a market cap of $40.65 billion, a P/E ratio of 50.13, a PEG ratio of 2.72 and a beta of 1.42. The stock’s fifty day moving average price is $92.84 and its 200-day moving average price is $92.97.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.22 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. 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 research report on Friday, August 2nd. Barclays upped their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley started 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 for the company. Finally, Cfra upped their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Ingersoll Rand Company 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.