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

Ingersoll Rand Inc. (NYSE:IR) was the recipient of a significant growth in short interest in 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. Approximately 2.4% of the shares of the company are short sold. Based on an average trading volume of 2,470,000 shares, the short-interest ratio is currently 3.9 days.

Ingersoll Rand Trading Up 0.8 %

Shares of NYSE:IR traded up $0.84 on Thursday, reaching $101.23. 561,578 shares of the company traded hands, compared to its average volume of 2,554,528. The stock has a market capitalization of $40.84 billion, a P/E ratio of 49.95, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. The business’s 50-day simple moving average is $93.66 and its 200 day simple moving average is $93.09. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Ingersoll Rand has a 52 week low of $59.20 and a 52 week 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 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities analysts anticipate that Ingersoll Rand will post 3.22 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on IR. Robert W. Baird lifted their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Cfra lifted their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.17.

Insider Activity

In related news, insider Andrew R. Schiesl sold 15,381 shares of the 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 owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds have recently modified their holdings of the company. Greenleaf Trust increased its holdings in Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares during the period. Wealthspire Advisors LLC increased its stake in shares of Ingersoll Rand by 5.5% during the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after buying an additional 119 shares during the period. Opal Wealth Advisors LLC raised its holdings in shares of Ingersoll Rand by 6.0% during the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 121 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its position in Ingersoll Rand by 4.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares during the period. Hedge funds and other 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.