Ingersoll Rand Inc. (NYSE:IR) Short Interest Down 9.4% in January

Ingersoll Rand Inc. (NYSE:IR) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 8,500,000 shares, a drop of 9.4% from the January 15th total of 9,380,000 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 2,090,000 shares, the short-interest ratio is presently 4.1 days.

Institutional Investors Weigh In On Ingersoll Rand

A number of large investors have recently added to or reduced their stakes in the stock. Savant Capital LLC boosted its holdings in shares of Ingersoll Rand by 2.3% in the 4th quarter. Savant Capital LLC now owns 6,938 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 158 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $864,000. Nordea Investment Management AB boosted its holdings in shares of Ingersoll Rand by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Ingersoll Rand by 9.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after purchasing an additional 7,784 shares in the last quarter. Finally, abrdn plc boosted its holdings in shares of Ingersoll Rand by 70.5% in the 4th quarter. abrdn plc now owns 262,863 shares of the industrial products company’s stock valued at $23,851,000 after purchasing an additional 108,700 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 recent analyst reports. Wells Fargo & Company cut their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird cut their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus lowered their target price on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Citigroup lowered their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average target price of $105.92.

Ingersoll Rand Trading Down 7.3 %

Shares of IR opened at $85.79 on Tuesday. The stock has a fifty day moving average price of $92.41 and a two-hundred day moving average price of $95.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand has a 52-week low of $83.72 and a 52-week high of $106.03. The company has a market cap of $34.58 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 3.66 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 13.01% and a net margin of 11.72%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Analysts predict that Ingersoll Rand will post 3.2 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

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.