Short Interest in Ingersoll Rand Inc. (NYSE:IR) Increases By 7.3%

Ingersoll Rand Inc. (NYSE:IR) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 9,840,000 shares, an increase of 7.3% from the October 31st total of 9,170,000 shares. Based on an average trading volume of 2,260,000 shares, the days-to-cover ratio is presently 4.4 days. Currently, 2.5% of the shares of the company are sold short.

Analyst Ratings Changes

A number of analysts have recently commented on IR shares. Evercore ISI dropped their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird cut their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Cfra upped their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $103.83.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently made changes to their positions in the business. Wealthspire Advisors LLC increased its holdings in shares of Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 119 shares during the period. Kanawha Capital Management LLC increased its holdings in shares of Ingersoll Rand by 2.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after purchasing an additional 119 shares during the period. Opal Wealth Advisors LLC increased its holdings in shares of Ingersoll Rand by 6.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 121 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the period. Finally, Resonant Capital Advisors LLC increased its holdings in shares of Ingersoll Rand by 4.2% in 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. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

IR stock opened at $103.96 on Thursday. The firm has a market capitalization of $41.90 billion, a PE ratio of 50.71, a P/E/G ratio of 3.99 and a beta of 1.42. Ingersoll Rand has a one year low of $71.21 and a one year high of $106.03. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $100.64 and a two-hundred day moving average of $95.41.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is 3.90%.

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.