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

Meyer Handelman Co. trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 268,689 shares of the industrial products company’s stock after selling 1,991 shares during the quarter. Meyer Handelman Co.’s holdings in Ingersoll Rand were worth $24,306,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IR. Virtu Financial LLC acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $864,000. Nordea Investment Management AB boosted its stake in Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after buying an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 7,784 shares during the last quarter. GDS Wealth Management raised its stake in Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after acquiring an additional 10,081 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Ingersoll Rand by 28.2% in the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock worth $9,987,000 after acquiring an additional 22,401 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research analyst reports. Cfra upped their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group upped their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup cut their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday. UBS Group assumed coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Finally, Robert W. Baird reduced their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.50.

Ingersoll Rand Stock Performance

IR stock opened at $89.40 on Wednesday. The firm has a market cap of $36.03 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $98.07 and a 200-day moving average price of $95.74. Ingersoll Rand Inc. has a 1-year low of $76.64 and a 1-year high of $106.03.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Buying and Selling at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 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. Insiders own 0.68% of the company’s stock.

About Ingersoll Rand

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.