Envestnet Asset Management Inc. Sells 25,773 Shares of Ingersoll Rand Inc. (NYSE:IR)

Envestnet Asset Management Inc. decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,566 shares of the industrial products company’s stock after selling 25,773 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Ingersoll Rand worth $20,773,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Compass Wealth Management LLC boosted its holdings in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after buying an additional 137 shares during the period. Global Wealth Strategies & Associates raised its stake in Ingersoll Rand by 325.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Ingersoll Rand in the 4th quarter valued at about $36,000. Lee Danner & Bass Inc. bought a new position in Ingersoll Rand in the 4th quarter valued at about $42,000. Finally, Golden State Wealth Management LLC increased its holdings in Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after buying an additional 313 shares during the period. Institutional investors own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 10,986 shares in the company, valued at approximately $920,407.08. This represents a 24.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider owned 193,186 shares in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

IR opened at $86.12 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 2.38. The firm has a market cap of $34.75 billion, a P/E ratio of 42.64, a PEG ratio of 3.64 and a beta of 1.43. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The firm has a 50-day moving average of $83.42 and a 200 day moving average of $83.24.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 EPS 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 business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts expect that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has initiated a stock repurchase plan 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 plans are often a sign that the company’s management believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IR shares. Melius lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Monday. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday. Citigroup reiterated a “buy” rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Finally, Barclays boosted their price target on shares of Ingersoll Rand from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $99.42.

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.