Meyer Handelman Co. Has $18.59 Million Holdings in Ingersoll Rand Inc. $IR

Key Points

• Meyer Handelman Co. cut its Ingersoll Rand stake by 9.0% in the first quarter, selling 23,022 shares and ending with 231,960 shares valued at about $18.59 million.
• Ingersoll Rand reported better-than-expected quarterly results, with EPS of $0.77 versus $0.74 expected and revenue of $1.85 billion versus $1.83 billion expected, while revenue rose 7.6% year over year.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $92.75, while the company also recently paid a $0.02 quarterly dividend yielding about 0.1%.

Meyer Handelman Co. decreased its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 231,960 shares of the industrial products company's stock after selling 23,022 shares during the quarter. Meyer Handelman Co. owned approximately 0.06% of Ingersoll Rand worth $18,585,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Louisiana State Employees Retirement System bought a new stake in shares of Ingersoll Rand in the 1st quarter valued at about $1,450,000. Blue Trust Inc. lifted its stake in shares of Ingersoll Rand by 340.4% in the first quarter. Blue Trust Inc. now owns 4,536 shares of the industrial products company's stock worth $363,000 after acquiring an additional 3,506 shares during the period. RFG Advisory LLC acquired a new position in shares of Ingersoll Rand in the first quarter worth approximately $247,000. OP Asset Management Ltd bought a new stake in Ingersoll Rand in the first quarter valued at approximately $3,453,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Ingersoll Rand by 240.7% in the first quarter. Banque Cantonale Vaudoise now owns 15,603 shares of the industrial products company's stock valued at $1,250,000 after acquiring an additional 11,023 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $81.81 on Friday. The stock has a market capitalization of $32.01 billion, a price-to-earnings ratio of 55.27, a PEG ratio of 4.96 and a beta of 1.19. Ingersoll Rand Inc. has a 52-week low of $68.07 and a 52-week high of $100.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.23. The stock's 50 day moving average price is $76.00 and its two-hundred day moving average price is $82.60.

Ingersoll Rand (NYSE:IR - Get Free Report) last released 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. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. Ingersoll Rand's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.37 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Insider Activity

In other news, insider Vicente Reynal sold 30,492 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $88.00, for a total transaction of $2,683,296.00. Following the transaction, the insider owned 209,534 shares of the company's stock, valued at $18,438,992. This represents a 12.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Robert W. Baird set a $103.00 price target on shares of Ingersoll Rand in a report on Thursday, April 30th. Barclays reduced their price objective on shares of Ingersoll Rand from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $90.00 to $88.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Weiss Ratings restated a "hold (c)" rating on shares of Ingersoll Rand in a report on Friday, March 27th. Finally, Morgan Stanley cut their price target on shares of Ingersoll Rand from $92.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $92.75.

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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