Ingersoll Rand Inc. (NYSE:IR) Position Lowered by Meyer Handelman Co.

Meyer Handelman Co. decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 276,455 shares of the industrial products company’s stock after selling 502 shares during the quarter. Meyer Handelman Co.’s holdings in Ingersoll Rand were worth $25,113,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IR. Prime Capital Investment Advisors LLC bought a new position in Ingersoll Rand in the fourth quarter worth about $267,000. Bleakley Financial Group LLC raised its holdings in shares of Ingersoll Rand by 15.7% during the fourth quarter. Bleakley Financial Group LLC now owns 5,940 shares of the industrial products company’s stock valued at $459,000 after buying an additional 807 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at approximately $558,000. Cerity Partners LLC increased its holdings in shares of Ingersoll Rand by 78.6% in the fourth quarter. Cerity Partners LLC now owns 261,407 shares of the industrial products company’s stock valued at $20,218,000 after buying an additional 115,040 shares in the last quarter. Finally, Sapient Capital LLC bought a new position in shares of Ingersoll Rand in the fourth quarter valued at $350,000. Institutional investors own 95.27% of the company’s stock.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated 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 sale, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the transaction, the insider now owns 100,367 shares of the company’s stock, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,236 shares of company stock valued at $20,930,643. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IR shares. Robert W. Baird increased their target price 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. Barclays dropped their price objective on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus lifted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.36.

Ingersoll Rand Stock Performance

NYSE:IR traded up $1.65 during mid-day trading on Tuesday, hitting $89.91. 1,867,209 shares of the company’s stock traded hands, compared to its average volume of 2,679,494. The firm has a market capitalization of $36.27 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45. The firm has a 50 day moving average of $93.17 and a two-hundred day moving average of $91.52. The company has a current ratio of 2.18, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30.

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

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. 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.