Bank of New York Mellon Corp Lowers Stock Holdings in Ingersoll Rand Inc. $IR

Bank of New York Mellon Corp lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,901,090 shares of the industrial products company’s stock after selling 117,951 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ingersoll Rand were worth $309,044,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Torren Management LLC purchased a new stake in Ingersoll Rand in the 4th quarter worth $32,000. Salomon & Ludwin LLC increased its stake in Ingersoll Rand by 166.9% in the 4th quarter. Salomon & Ludwin LLC now owns 427 shares of the industrial products company’s stock worth $35,000 after buying an additional 267 shares in the last quarter. Westside Investment Management Inc. increased its stake in Ingersoll Rand by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 464 shares of the industrial products company’s stock worth $39,000 after buying an additional 232 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its stake in Ingersoll Rand by 55.3% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 486 shares of the industrial products company’s stock worth $40,000 after buying an additional 173 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Ingersoll Rand by 106.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 584 shares of the industrial products company’s stock worth $48,000 after buying an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IR shares. Citigroup cut their price target on Ingersoll Rand from $113.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Barclays cut their price target 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. Robert W. Baird set a $103.00 price target on Ingersoll Rand in a research note on Thursday, April 30th. Wells Fargo & Company cut their price target on Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Morgan Stanley cut their price target on Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $92.75.

Ingersoll Rand Stock Up 2.8%

IR opened at $72.06 on Friday. The firm has a 50-day simple moving average of $77.78 and a two-hundred day simple moving average of $82.81. Ingersoll Rand Inc. has a 52 week low of $68.07 and a 52 week high of $100.96. The company has a market capitalization of $28.20 billion, a PE ratio of 48.69, a price-to-earnings-growth ratio of 4.43 and a beta of 1.19. The company has a quick ratio of 1.59, a current ratio of 2.23 and a debt-to-equity ratio of 0.47.

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

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 30,492 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was 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 approximately $18,438,992. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.

Ingersoll Rand 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.