Ingersoll Rand Inc. (NYSE:IR) Short Interest Update

Ingersoll Rand Inc. (NYSE:IR) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 9,590,000 shares, a growth of 5.7% from the September 15th total of 9,070,000 shares. Based on an average daily trading volume, of 2,470,000 shares, the short-interest ratio is currently 3.9 days. Approximately 2.4% of the company’s stock are short sold.

Analyst Ratings Changes

Several research analysts recently commented on IR shares. Barclays raised their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Evercore ISI reduced their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group started coverage on Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.17.

Ingersoll Rand Trading Down 0.3 %

IR stock traded down $0.28 during midday trading on Wednesday, reaching $100.39. The stock had a trading volume of 1,556,554 shares, compared to its average volume of 2,564,493. The business has a fifty day simple moving average of $93.40 and a two-hundred day simple moving average of $93.03. 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 firm has a market cap of $40.50 billion, a price-to-earnings ratio of 50.05, a PEG ratio of 2.72 and a beta of 1.42. Ingersoll Rand has a twelve month low of $59.20 and a twelve month high of $102.74.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data 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 analyst estimates of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. As a group, research analysts expect that Ingersoll Rand will post 3.22 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 issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors lifted its holdings in shares of Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after purchasing an additional 1,504,414 shares in the last quarter. Capital World Investors bought a new position in shares of Ingersoll Rand during the 1st quarter valued at about $440,401,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after purchasing an additional 224,463 shares in the last quarter. Institutional investors own 95.27% 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.