Ingersoll Rand Inc. (NYSE:IR) Short Interest Down 6.2% in October

Ingersoll Rand Inc. (NYSE:IR) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 9,170,000 shares, a drop of 6.2% from the October 15th total of 9,780,000 shares. Based on an average daily trading volume, of 2,210,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.3% of the company’s stock are sold short.

Insider Buying and Selling

In other news, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand 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 transaction, the insider now owns 6,559 shares in the company, valued at approximately $599,623.78. This trade represents a 53.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,660 shares of company stock worth $1,348,834. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

Several large investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky increased its position in shares of Ingersoll Rand by 28.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 221,919 shares of the industrial products company’s stock worth $21,783,000 after acquiring an additional 48,975 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Ingersoll Rand by 9.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,601 shares of the industrial products company’s stock worth $750,000 after purchasing an additional 639 shares during the period. Geode Capital Management LLC grew its position in Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares in the last quarter. MidWestOne Financial Group Inc. acquired a new stake in Ingersoll Rand during the 3rd quarter valued at $207,000. Finally, M&T Bank Corp lifted its holdings in shares of Ingersoll Rand by 1.1% in the third quarter. M&T Bank Corp now owns 30,088 shares of the industrial products company’s stock valued at $2,953,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $101.65 on Tuesday. Ingersoll Rand has a 1 year low of $69.46 and a 1 year high of $105.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a fifty day moving average price of $98.12 and a two-hundred day moving average price of $94.31. The firm has a market cap of $40.97 billion, a P/E ratio of 49.59, a PEG ratio of 3.89 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Analyst Ratings Changes

Several research firms recently weighed in on IR. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Evercore ISI dropped their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. UBS Group assumed coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Robert W. Baird cut their target price 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. Finally, Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price target for the stock from $112.00 to $107.00 in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

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.