Meyer Handelman Co. Sells 2,000 Shares of Ingersoll Rand Inc. (NYSE:IR)

Meyer Handelman Co. cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 310,934 shares of the industrial products company’s stock after selling 2,000 shares during the period. Meyer Handelman Co.’s holdings in Ingersoll Rand were worth $13,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Ingersoll Rand by 103.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 273 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in Ingersoll Rand in the first quarter valued at approximately $27,000. Riverview Trust Co bought a new position in shares of Ingersoll Rand during the first quarter valued at $28,000. CVA Family Office LLC raised its stake in shares of Ingersoll Rand by 131.3% during the second quarter. CVA Family Office LLC now owns 740 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 420 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Ingersoll Rand during the first quarter valued at $36,000. 99.89% of the stock is owned by institutional investors.

Ingersoll Rand Stock Down 2.3 %

Shares of NYSE IR traded down $1.05 during mid-day trading on Friday, reaching $43.76. 46,059 shares of the company’s stock traded hands, compared to its average volume of 3,302,619. The stock has a market cap of $17.64 billion, a P/E ratio of 28.01 and a beta of 1.49. The business has a 50-day simple moving average of $48.51 and a 200 day simple moving average of $46.83. Ingersoll Rand Inc. has a 1-year low of $39.28 and a 1-year high of $62.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.43 and a quick ratio of 1.73.

Ingersoll Rand Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 17th were issued a dividend of $0.032 per share. This is a boost from Ingersoll Rand’s previous quarterly dividend of $0.02. This represents a $0.13 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Tuesday, August 16th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 5.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Ingersoll Rand from $60.00 to $55.00 in a research note on Friday, July 15th. Barclays dropped their price target on shares of Ingersoll Rand from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Morgan Stanley lifted their target price on shares of Ingersoll Rand from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Credit Suisse Group set a $49.00 target price on shares of Ingersoll Rand in a research note on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lifted their target price for the stock from $50.00 to $52.00 in a research note on Friday, August 5th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.09.

Insider Activity

In related news, insider Viseras Enrique Minarro sold 19,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $53.51, for a total transaction of $1,016,690.00. Following the transaction, the insider now directly owns 7,650 shares in the company, valued at $409,351.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Viseras Enrique Minarro sold 19,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $53.51, for a total transaction of $1,016,690.00. Following the transaction, the insider now directly owns 7,650 shares in the company, valued at $409,351.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas J. Kendall-Jones sold 3,650 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $53.41, for a total transaction of $194,946.50. Following the transaction, the insider now owns 2,118 shares in the company, valued at $113,122.38. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

About Ingersoll Rand

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Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

See Also

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:IRGet Rating).

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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