Ingersoll Rand Inc. (NYSE:IR) Short Interest Up 8.0% in June

Ingersoll Rand Inc. (NYSE:IR) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 10,380,000 shares, an increase of 8.0% from the May 31st total of 9,610,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 2,840,000 shares, the short-interest ratio is currently 3.7 days.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now owns 100,367 shares in the company, valued at $8,843,336.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 22,369 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the completion of the sale, the insider now owns 30,846 shares in the company, valued at approximately $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Ingersoll Rand by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock worth $3,510,018,000 after acquiring an additional 176,734 shares during the period. Capital International Investors raised its position in Ingersoll Rand by 113.7% in the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares during the period. JPMorgan Chase & Co. raised its position in Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after acquiring an additional 3,535,543 shares during the period. Capital Research Global Investors raised its position 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 during the period. Finally, Putnam Investments LLC raised its position in shares of Ingersoll Rand by 8.0% during the 4th quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock valued at $730,383,000 after purchasing an additional 696,610 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IR has been the topic of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Barclays cut their price target on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. BNP Paribas assumed coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target on the stock. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Ingersoll Rand Trading Up 0.4 %

Shares of IR stock opened at $91.01 on Thursday. Ingersoll Rand has a 12-month low of $59.20 and a 12-month high of $96.67. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $92.02 and its 200 day moving average is $87.91. The stock has a market capitalization of $36.72 billion, a P/E ratio of 45.28, a P/E/G ratio of 2.65 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Research analysts expect that Ingersoll Rand will post 3.19 earnings per share for the current year.

Ingersoll Rand declared that its board has authorized a stock buyback program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s payout ratio is presently 3.98%.

About Ingersoll Rand

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.