Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 76.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,644 shares of the industrial products company's stock after selling 8,395 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Ingersoll Rand were worth $212,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IR. Vanguard Group Inc. lifted its stake in Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after purchasing an additional 446,591 shares during the last quarter. Capital International Investors raised its holdings in Ingersoll Rand by 4.6% during the fourth quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company's stock worth $3,317,537,000 after purchasing an additional 1,606,363 shares in the last quarter. Capital World Investors lifted its position in shares of Ingersoll Rand by 1.0% during the 4th quarter. Capital World Investors now owns 20,088,857 shares of the industrial products company's stock worth $1,817,238,000 after buying an additional 197,711 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll Rand by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,878,280 shares of the industrial products company's stock valued at $1,707,729,000 after buying an additional 649,102 shares in the last quarter. Finally, FMR LLC grew its position in shares of Ingersoll Rand by 8.2% in the 4th quarter. FMR LLC now owns 17,472,317 shares of the industrial products company's stock valued at $1,580,546,000 after buying an additional 1,320,223 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded up $2.03 during trading on Tuesday, reaching $85.21. The company had a trading volume of 2,776,141 shares, compared to its average volume of 2,908,672. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 1.76. The stock's fifty day moving average price is $80.61 and its 200 day moving average price is $83.63. The firm has a market capitalization of $34.38 billion, a price-to-earnings ratio of 42.18, a price-to-earnings-growth ratio of 3.35 and a beta of 1.44.

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

Ingersoll Rand announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm 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. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand's dividend payout ratio is presently 3.96%.

Insider Activity at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the sale, the insider directly owned 10,986 shares of the company's stock, valued at $920,407.08. This trade represents a 24.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction on 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 in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

IR has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday. Stifel Nicolaus reduced their target price on Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating for the company in a report on Monday, April 14th. Barclays dropped their price target on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Citigroup boosted their price objective on Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.70.

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.