Short Interest in Ingersoll Rand Inc. (NYSE:IR) Decreases By 9.6%

Ingersoll Rand Inc. (NYSE:IR) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 8,940,000 shares, a decline of 9.6% from the August 15th total of 9,890,000 shares. Based on an average trading volume of 2,410,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group initiated coverage on Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Cfra reissued a “hold” rating and issued a $85.00 target price on shares of Ingersoll Rand in a research report on Friday, August 2nd. Barclays reduced their price target on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Stock Performance

NYSE IR traded down $0.23 during trading hours on Wednesday, hitting $93.74. The company had a trading volume of 2,198,883 shares, compared to its average volume of 2,585,110. 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 $37.82 billion, a P/E ratio of 46.75, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. Ingersoll Rand has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The business has a fifty day simple moving average of $92.44 and a 200-day simple moving average of $92.16.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Equities analysts predict that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors 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 0.09%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated 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 $344,571.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Ingersoll Rand

Several large investors have recently added to or reduced their stakes in IR. Ridgewood Investments LLC bought a new position in shares of Ingersoll Rand in the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in shares of Ingersoll Rand in the first quarter valued at $28,000. Riverview Trust Co bought a new position in Ingersoll Rand during the first quarter valued at about $29,000. Finally, Scarborough Advisors LLC bought a new stake in Ingersoll Rand in the fourth quarter worth about $32,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.