Bank of New York Mellon Corp Acquires Shares of 4,004,257 Ingersoll Rand Inc. $IR

Bank of New York Mellon Corp bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,004,257 shares of the industrial products company's stock, valued at approximately $328,309,000. Bank of New York Mellon Corp owned 1.03% of Ingersoll Rand at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in shares of Ingersoll Rand by 12.7% during the first quarter. AQR Capital Management LLC now owns 37,078 shares of the industrial products company's stock valued at $2,904,000 after acquiring an additional 4,167 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Ingersoll Rand by 4.8% in the first quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company's stock worth $494,000 after acquiring an additional 282 shares during the last quarter. Empowered Funds LLC increased its position in shares of Ingersoll Rand by 6.2% during the first quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company's stock worth $619,000 after purchasing an additional 454 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Ingersoll Rand during the first quarter worth approximately $643,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Ingersoll Rand by 663.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 74,615 shares of the industrial products company's stock valued at $6,206,000 after purchasing an additional 64,838 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Insider Activity

In other news, Director Aurobind Satpathy acquired 11,538 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $1,000,113.84. Following the acquisition, the director directly owned 11,538 shares in the company, valued at approximately $1,000,113.84. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IR shares. Weiss Ratings raised shares of Ingersoll Rand from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 21st. Citigroup cut their price objective on shares of Ingersoll Rand from $113.00 to $109.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Morgan Stanley set a $87.00 price target on shares of Ingersoll Rand in a research note on Monday, August 10th. Finally, Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $90.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.14.

Ingersoll Rand Price Performance

IR stock opened at $80.52 on Friday. The business has a 50 day moving average price of $81.86 and a 200 day moving average price of $82.45. The stock has a market cap of $31.24 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 4.99 and a beta of 1.17. Ingersoll Rand Inc. has a fifty-two week low of $68.07 and a fifty-two week high of $100.96. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.40.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. Ingersoll Rand had a net margin of 12.08% and a return on equity of 12.90%. Ingersoll Rand's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. Ingersoll Rand has set its FY 2026 guidance at 3.570-3.570 EPS. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.39 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is 3.29%.

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company's products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.

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