Meyer Handelman Co. Sells 1,991 Shares of Ingersoll Rand Inc. (NYSE:IR)

Meyer Handelman Co. decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 268,689 shares of the industrial products company’s stock after selling 1,991 shares during the quarter. Meyer Handelman Co. owned about 0.07% of Ingersoll Rand worth $24,306,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Ingersoll Rand by 10.5% during the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Ingersoll Rand by 9,681.5% in the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock valued at $353,720,000 after buying an additional 356,665 shares during the period. Franklin Resources Inc. increased its position in shares of Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Ingersoll Rand by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock worth $153,867,000 after acquiring an additional 271,381 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

IR opened at $89.40 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $76.64 and a 12-month high of $106.03. The business has a 50 day moving average of $98.07 and a 200-day moving average of $95.74. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IR. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Citigroup dropped their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday. Cfra raised their price target 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. Barclays cut their price objective on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.68% of the company’s stock.

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.