Envestnet Portfolio Solutions Inc. Buys 442 Shares of Ingersoll Rand Inc. (NYSE:IR)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,039 shares of the industrial products company’s stock after buying an additional 442 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Ingersoll Rand were worth $999,000 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 the stock. JPMorgan Chase & Co. grew its position in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the last quarter. FMR LLC grew its holdings in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after buying an additional 1,538,056 shares in the last quarter. State Street Corp increased its position in Ingersoll Rand by 0.7% during the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after buying an additional 112,824 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after buying an additional 278,710 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ingersoll Rand by 0.6% in the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after acquiring an additional 54,952 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on IR. Stifel Nicolaus dropped their price objective on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, February 18th. Barclays cut their price target on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Citigroup reduced their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group upped their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Evercore ISI decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.36.

Ingersoll Rand Price Performance

IR stock opened at $81.00 on Friday. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of 39.32, a P/E/G ratio of 3.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. The company has a 50 day simple moving average of $87.56 and a 200 day simple moving average of $93.91. Ingersoll Rand Inc. has a 1 year low of $79.79 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Wednesday, March 5th. Ingersoll Rand’s payout ratio is 3.88%.

Ingersoll Rand 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.