Envestnet Asset Management Inc. Sells 69,442 Shares of Ingersoll Rand Inc. (NYSE:IR)

Envestnet Asset Management Inc. decreased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 25.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 200,937 shares of the industrial products company’s stock after selling 69,442 shares during the period. Envestnet Asset Management Inc.’s holdings in Ingersoll Rand were worth $18,253,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of IR. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ingersoll Rand by 24.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after purchasing an additional 96,982 shares during the last quarter. Nomura Holdings Inc. grew its holdings in Ingersoll Rand by 3,010.2% in the 4th quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock valued at $16,340,000 after buying an additional 204,481 shares in the last quarter. Varenne Capital Partners bought a new position in Ingersoll Rand during the 4th quarter worth $1,693,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of Ingersoll Rand during the first quarter worth $1,221,000. Finally, Swedbank AB boosted its position in shares of Ingersoll Rand by 34.0% in the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after acquiring an additional 198,200 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR stock opened at $97.47 on Tuesday. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $92.44 and a 200 day simple moving average of $92.32. The company has a market cap of $39.32 billion, a P/E ratio of 48.49, a P/E/G ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is presently 3.98%.

Wall Street Analyst Weigh In

IR has been the subject of several analyst reports. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Wells Fargo & Company cut their price target on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Robert W. Baird raised their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 target price for the company. Finally, Stifel Nicolaus raised their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the sale, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company’s stock.

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.