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

Bank of New York Mellon Corp boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.0% during the 1st quarter, HoldingsChannel reports. The fund owned 3,978,456 shares of the industrial products company’s stock after purchasing an additional 77,366 shares during the period. Bank of New York Mellon Corp’s holdings in Ingersoll Rand were worth $318,754,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators raised its holdings in shares of Ingersoll Rand by 46.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 351 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 112 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth about $29,000. Reflection Asset Management purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $31,000. Torren Management LLC acquired a new position in Ingersoll Rand in the 4th quarter worth approximately $32,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Ingersoll Rand by 166.9% during the fourth quarter. Salomon & Ludwin LLC now owns 427 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR opened at $82.29 on Friday. The company’s 50 day simple moving average is $75.51 and its 200-day simple moving average is $82.54. Ingersoll Rand Inc. has a 12-month low of $68.07 and a 12-month high of $100.96. The company has a current ratio of 2.23, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The firm has a market cap of $32.20 billion, a PE ratio of 55.60, a price-to-earnings-growth ratio of 5.36 and a beta of 1.17.

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

Ingersoll Rand Announces Dividend

The company also recently announced 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 was Thursday, May 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 5.41%.

Analysts Set New Price Targets

IR has been the subject of several recent research reports. Weiss Ratings lowered shares of Ingersoll Rand from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Citigroup cut their target price 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. Robert W. Baird set a $103.00 price objective on Ingersoll Rand in a report on Thursday, April 30th. Wall Street Zen downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Evercore set a $84.00 target price on Ingersoll Rand in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.71.

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.