Envestnet Asset Management Inc. Has $20.77 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Envestnet Asset Management Inc. reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 259,566 shares of the industrial products company's stock after selling 25,773 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Ingersoll Rand worth $20,773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in Ingersoll Rand in the fourth quarter valued at about $131,000. HighTower Advisors LLC raised its position in shares of Ingersoll Rand by 2.5% in the 4th quarter. HighTower Advisors LLC now owns 84,177 shares of the industrial products company's stock valued at $7,615,000 after acquiring an additional 2,049 shares during the period. Avantax Advisory Services Inc. boosted its stake in Ingersoll Rand by 90.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 10,727 shares of the industrial products company's stock worth $970,000 after acquiring an additional 5,083 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Ingersoll Rand by 2.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 29,972 shares of the industrial products company's stock valued at $2,711,000 after purchasing an additional 602 shares during the period. Finally, Natixis Advisors LLC increased its stake in Ingersoll Rand by 2.1% in the fourth quarter. Natixis Advisors LLC now owns 152,194 shares of the industrial products company's stock valued at $13,767,000 after purchasing an additional 3,090 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the completion of the sale, the insider directly owned 10,986 shares in the company, valued at $920,407.08. This represents a 24.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the transaction, the insider directly owned 193,186 shares of the company's stock, valued at approximately $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company's stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded down $2.20 during trading hours on Friday, hitting $85.55. The company had a trading volume of 4,273,639 shares, compared to its average volume of 2,590,744. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The firm has a market cap of $34.52 billion, a PE ratio of 42.35, a PEG ratio of 3.63 and a beta of 1.43. The firm has a 50-day moving average of $83.59 and a 200 day moving average of $83.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The business's revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio is presently 3.96%.

Analyst Ratings Changes

IR has been the topic of a number of recent analyst reports. Melius cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price target on the stock. in a research report on Monday. Stifel Nicolaus cut their price objective on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Citigroup reaffirmed a "buy" rating and issued a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Ingersoll Rand has an average rating of "Hold" and an average price target of $99.42.

Ingersoll Rand Company Profile

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.