Ingersoll Rand Inc. $IR Position Trimmed by Meyer Handelman Co.

Key Points

• Meyer Handelman Co. reduced its stake in Ingersoll Rand Inc. by 1.2% during the 2nd quarter, resulting in ownership of approximately 0.07% of the company valued at $22.16 million.
• Ingersoll Rand has received multiple price target upgrades from brokerages, with Citigroup setting a new high target of $104.00 while maintaining a "buy" rating.
• The company reported $0.80 EPS for the last quarter, matching analyst estimates, and is projecting an annual EPS of 3.32 for the current year.

Meyer Handelman Co. lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,393 shares of the industrial products company's stock after selling 3,215 shares during the quarter. Meyer Handelman Co. owned approximately 0.07% of Ingersoll Rand worth $22,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Compass Wealth Management LLC grew its stake in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 137 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after buying an additional 286 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after buying an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after buying an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IR. Robert W. Baird lifted their price target on Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Wells Fargo & Company lifted their price target on Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Melius Research set a $93.00 price target on Ingersoll Rand in a report on Monday, July 14th. Citigroup reiterated a "buy" rating and set a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Finally, Morgan Stanley reduced their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.75.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $80.45 on Friday. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a market cap of $31.97 billion, a P/E ratio of 62.85, a P/E/G ratio of 4.56 and a beta of 1.40. The business's 50 day moving average is $80.65 and its two-hundred day moving average is $80.32. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting analysts' consensus estimates of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is 6.25%.

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.

Want to see what other hedge funds are holding IR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingersoll Rand Inc. (NYSE:IR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.