Ingersoll Rand Inc. $IR Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in Ingersoll Rand by 2.0% in the first quarter, owning about 3.98 million shares valued at roughly $318.8 million.
• Several other institutions also boosted or initiated positions, and hedge funds/institutional investors now own 95.27% of the company’s stock.
• Analysts remain mixed but mostly constructive, with an average rating of “Moderate Buy” and an average price target of $92.71; the stock recently traded at $82.29 after a 2.9% decline.

Bank of New York Mellon Corp increased its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,978,456 shares of the industrial products company's stock after acquiring an additional 77,366 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of Ingersoll Rand worth $318,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in Ingersoll Rand by 12.7% in 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 buying an additional 4,167 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Ingersoll Rand by 4.8% during 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 in the last quarter. Empowered Funds LLC increased its stake in shares of Ingersoll Rand by 6.2% during the 1st 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 during the last quarter. Woodline Partners LP acquired a new stake in Ingersoll Rand in the 1st quarter worth approximately $643,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings 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 buying an additional 64,838 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on IR. Morgan Stanley lowered their price target on shares of Ingersoll Rand from $92.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, June 3rd. Wells Fargo & Company cut their price objective on Ingersoll Rand from $90.00 to $88.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Evercore set a $84.00 price objective on shares of Ingersoll Rand in a report on Monday, May 11th. Barclays lowered their price objective on Ingersoll Rand from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Finally, Robert W. Baird set a $103.00 price target on Ingersoll Rand in a report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.71.

Ingersoll Rand Trading Down 2.9%

Shares of Ingersoll Rand stock opened at $82.29 on Friday. Ingersoll Rand Inc. has a 1 year low of $68.07 and a 1 year high of $100.96. The company has a 50 day simple moving average of $75.51 and a two-hundred day simple moving average of $82.54. The firm has a market cap of $32.20 billion, a PE ratio of 55.60, a PEG ratio of 5.36 and a beta of 1.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.23 and a quick ratio of 1.59.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Ingersoll Rand had a return on equity of 12.79% and a net margin of 7.54%.The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. Analysts expect that Ingersoll Rand Inc. will post 3.37 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Ingersoll Rand's payout ratio is presently 5.41%.

Ingersoll Rand Company 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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