Envestnet Portfolio Solutions Inc. Sells 522 Shares of Ingersoll Rand Inc. (NYSE:IR)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,940 shares of the industrial products company’s stock after selling 522 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ingersoll Rand were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of Ingersoll Rand by 101.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock valued at $108,328,000 after acquiring an additional 854,314 shares during the period. FMR LLC raised its holdings in Ingersoll Rand by 3.4% in the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock worth $1,222,789,000 after purchasing an additional 627,146 shares in the last quarter. Barclays PLC lifted its position in shares of Ingersoll Rand by 59.8% during the third quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock valued at $55,836,000 after buying an additional 327,931 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Ingersoll Rand by 7,475.8% in the 4th quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock valued at $21,773,000 after buying an additional 277,802 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Ingersoll Rand by 45.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock worth $50,765,000 after buying an additional 248,634 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Activity

In other news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. Insiders sold a total of 297,369 shares of company stock valued at $26,831,251 in the last quarter. 0.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Wells Fargo & Company reduced their target price on Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Barclays lowered their price target on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Citigroup upped their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $95.82.

Ingersoll Rand Stock Up 1.2 %

IR stock opened at $96.30 on Thursday. The company has a market capitalization of $38.85 billion, a P/E ratio of 47.91, a price-to-earnings-growth ratio of 3.08 and a beta of 1.40. Ingersoll Rand Inc. has a 12 month low of $56.49 and a 12 month high of $96.36. The firm’s fifty day simple moving average is $92.32 and its 200-day simple moving average is $83.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71.

Ingersoll Rand declared that its board has initiated a stock buyback plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

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.