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

Envestnet Portfolio Solutions Inc. raised its stake in Ingersoll Rand Inc. (NYSE:IR) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Ingersoll Rand in the fourth quarter valued at $38,000. UMB Bank n.a. lifted its stake in shares of Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares during the period. Versant Capital Management Inc boosted its position in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $99,000. Finally, WASHINGTON TRUST Co increased its holdings in Ingersoll Rand by 18.5% in the fourth quarter. WASHINGTON TRUST Co now owns 1,136 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

IR has been the topic of a number of research analyst reports. Barclays cut their price target on Ingersoll Rand from $102.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Robert W. Baird raised their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted 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, Citigroup cut their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $105.36.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $81.00 on Friday. Ingersoll Rand Inc. has a 1-year low of $79.79 and a 1-year high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $32.65 billion, a PE ratio of 39.32, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The stock’s fifty day simple moving average is $87.56 and its two-hundred day simple moving average is $93.91.

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

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio is currently 3.88%.

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.